Minneapolis-based fluid management provider Graco (NYSE: GGG) says it will acquire a subsidiary of Cohesant Technologies (Nasdaq: COHT) for $35 million in Q108.
The transaction involves Graco merging with the Indianapolis, Ind.-based Cohesant Technologies , GlassCraft’s parent, before spinning off all of Cohesant’s non-Glascraft’s operations, according to a release.
GlasCraft designs, manufactures and sells dispensing systems for the polyurethane foam and polyurea coatings industries. It also developed a spray system for the composites manufacturing industry.
The company has approximately 70 employees and annual sales of approximately $18 million.
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