Minneapolis, Minnesota -- Graco Inc has completed its acquisition of the stock of High Pressure Equipment (HiP) company for $160m.
HiP is a Pennsylvania based manufacturer of valves, fittings, and other flow control equipment engineered to perform in ultra-high pressure environments, from 10,000 to 150,000 psi. HiP also maintains an engineering and production base in Stoke-on-Trent, Staffordshire U.K.
“We are pleased to formally welcome HiP to the Graco family,” said Graco president and ceo Patrick McHale. “Their sophisticated technologies and in-depth market experience will be of significant value to Graco.”