Graco acquires UK valve manufacturer
Graco, a manufacturer of fluid handling equipment, has acquired the stock of Alco Valves Group (Alco), a UK-based manufacturer of high pressure valves used in oil and natural gas and other industrial processes.
Established in 1977, Alco offers a portfolio of brands, including Alco Hi-Tek, Alco Valves, Alco Sub-Tek, and Alco Process. It operates manufacturing facilities in both Manchester and Leeds. In addition, it has warehousing and sales operations in Houston, Texas, Toronto, Canada, and Singapore. The newly acquired business will maintain its manufacturing and engineering base in the United Kingdom.
Alco generated approximately £19 million (€24 million) of revenue and approximately £6 million of EBITDA in the most recent trailing twelve months. The acquisition was a cash transaction which closed for £72 million and is subject to normal post-closing purchase price adjustments.