Graco Inc. has purchased Florida-based equipment firm Smith Manufacturing for an undisclosed price.
The deal, which closed Dec. 15 and was announced Wednesday, expands Graco’s surface-preparation equipment business. Smith specializes in making “scarification” equipment, which can be used to scar concrete, remove traffic tape from gravel, grind paint off surfaces or otherwise help finish a variety of internal and external surfaces.
Smith will continue operating its factory in Pompano Beach, Fla., and will make products for existing customers, as well as Graco’s, going forward, company officials said.
Smith’s “broad line of products will be a great addition to our pavement maintenance equipment offering and an excellent complement to our robust family of line striping equipment,” Dale Johnson, president of Graco’s Worldwide Contractor Equipment Division, said in a statement.
He added that Smith’s addition should benefit Graco since it “is a well-known brand for surface preparation and grinding equipment used in striping, road construction, road maintenance and concrete flooring/surfaces.”
Graco is better known for making industrial sprayers and pumps such as those used to paint autos, inject expandable foam installation into walls and process food.
Graco’s stock fell $1.08 to close Wednesday at $133.37.