According to Liquid Control president Kenneth A. Jacobs, Graco will retain the Liquid Control name and brands, operating the company as a subsidiary of Graco Inc. Liquid Control chairman and founder William Schiltz will be retiring with Jacobs continuing on as president of the new subsidiary. Jacobs says there are no plans to lay off any of Liquid Control's existing workforce, and all of the company's department directors and managers have agreed to stay on in their existing capacities.
Liquid Control has approximately 150 employees and manufactures dispensing equipment for general assembly, electronics assembly, fabrications, composite manufacturing and polyurethane molding.
Graco Inc. manufactures equipment to move, measure, control, dispense and spray fluid materials. Founded in 1926, the company has approximately 1,700 employees, with facilities in Rogers, MN; Sioux Falls, SD; Maasmechelen, Belgium; Yokohama City, Japan; Shanghai, China; and Gwanggi-Do, Korea.
Graco president David Roberts says, "We are excited about this opportunity to expand our presence in the sealants and adhesives equipment market. We see a good fit between our two companies and are excited about the prospects for future revenue and earnings growth."
According to Schiltz, the move will benefit employees at both companies. "Graco is in an expansion mode and has the ability to take Liquid Control into global markets that were out of our reach. It's an opportunity for Liquid Control to grow," he says.