Graco

Graco Inc. is an American industrial technology company that designs, manufactures, and sells equipment for managing fluids and powder materials. Its systems are used to move, measure, control, dispense, mix, lubricate, and spray materials in construction, manufacturing, automotive, infrastructure, transportation, food and beverage, energy, agriculture, and other industrial and commercial applications. The company is headquartered in Minneapolis, Minnesota, and distributes products internationally through a network that includes independent distributors, dealers, direct sales channels, service organizations, and regional operations. The business began in Minneapolis in 1926 as Gray Company, founded by brothers Russell and Leil Gray. Russell Gray developed an air-powered grease gun after observing that manually operated grease guns could become difficult to use in cold Minnesota weather. The invention gave the new company an initial specialization in lubrication equipment and created the engineering-centered culture that later shaped its expansion into broader fluid-handling technologies. During World War II, Gray Company supplied lubrication equipment for defense-related applications. After the war, it broadened its range with pumps for paint and other industrial fluids, including systems designed to draw material directly from drums and containers. A major turning point came in the 1950s with the development of spray-finishing technology and the 1957 introduction of an airless spray gun. These products helped Graco become an important supplier to painting, coating, construction, and industrial-finishing customers. In 1969, Gray Company became publicly traded and adopted the Graco name. The company subsequently expanded through product development, international distribution, manufacturing investment, and acquisitions, including the acquisition of H. G. Fischer and later the powder-coating business associated with Gema. Graco’s current business is organized around three reportable segments: Contractor, Industrial, and Expansion Markets. Contractor serves professional contractors and do-it-yourself users with paint sprayers, line-striping equipment, texture and roof-coating systems, pressure-washing equipment, and related accessories. Industrial serves manufacturers and finishing operations with pumps, spray systems, powder-coating technology, sealant and adhesive equipment, metering and mixing systems, and other application technologies. Expansion Markets houses selected newer or adjacent businesses, including environmental, semiconductor, high-pressure-valve, and electric-motor applications, as well as future ventures and acquisitions. The company’s positioning centers on durable engineered equipment, application precision, reduced material waste, productivity, uptime, technical support, and lifecycle value. Graco does not primarily compete as a consumer lifestyle brand; its brand reputation is rooted in reliability among contractors, maintenance professionals, equipment dealers, original-equipment manufacturers, and process engineers. Its products are often integrated into larger production or maintenance systems, making serviceability, parts availability, application expertise, and distributor support important parts of the customer proposition. Graco remains an independent publicly traded company under the symbol GGG. Mark W. Sheahan has served as president and chief executive officer since June 2021. In 2025, the company introduced a global, customer-centered operating model that combined regional activities into global business divisions and established Expansion Markets as a distinct growth platform. In 2026, Graco marked its centennial, announced a proposed acquisition of Valco Melton, celebrated its history through product and community initiatives, and began construction of a future global headquarters in Dayton, Minnesota. The Minneapolis campus remained the worldwide headquarters as of August 2026, while the…

Graco’s origins lie in Minneapolis during the winter climate of the 1920s. Russell Gray, who worked as a parking-lot attendant and service-station employee, developed an air-powered grease gun after observing that hand-operated equipment could become unreliable in cold weather. In 1926, he and his brother Leil Gray established Gray Company to manufacture and sell the invention. The company’s first-year sales were reported at approximately $35,000, but the business soon developed a broader base in lubrication equipment. During the Great Depression, Gray Company survived by continuing to refine practical equipment for service and maintenance applications. By 1941, annual sales had reached approximately $1 million. World War II created additional demand for lubrication equipment used in defense-related operations, and the company supplied equipment for military and industrial customers. After the war, Gray Company created an Industrial Equipment Division and expanded beyond lubrication into paint pumps and systems that could draw industrial fluids directly from drums and other containers. The company’s product and market scope widened during the 1950s. By the middle of that decade, sales had reached approximately $5 million and employment had grown to about 400 people. The 1957 introduction of an airless spray gun was particularly important because it gave the company a strong position in architectural painting, industrial finishing, and contractor applications. In 1954, Gray Company purchased the Hanna properties along the Mississippi River in Minneapolis, creating a long-term base for its expanding corporate and manufacturing operations. Leil Gray died in 1958. Harry A. Murphy succeeded him as president, followed by David A. Koch in 1962. Under successive management teams, the company continued to broaden its capabilities in pumps, spray-finishing, metering, and fluid control. Near the end of the 1960s, Gray Company became publicly traded and changed its name to Graco Inc. The new name supported a broader identity as the business moved beyond its original grease-gun and lubrication roots. At the time of the public offering and name change in 1969, annual sales were reported at approximately $33 million. Graco expanded its finishing capabilities through the acquisition of H. G. Fischer & Co., a producer of electrostatic finishing equipment. The deal aligned Graco with a major shift in automotive and industrial painting, in which electrostatic methods increasingly complemented or replaced conventional air-based processes. By 1979, sales had reached approximately $100 million. In 1981, Graco formed Graco Robotics, Inc. with Edon Finishing Systems, reflecting the company’s interest in automated finishing and equipment integration. The company continued to evolve through international expansion and acquisitions. In the early 2000s, David Roberts became president and chief executive officer, followed by Patrick J. McHale in 2007. A major strategic transaction was announced in 2011, when Graco agreed to purchase the finishing businesses of Illinois Tool Works for $650 million. The portfolio included Gema powder-coating technology as well as liquid-finishing brands and operations associated with Binks, DeVilbiss, Ransburg, and BGK. The Federal Trade Commission challenged the liquid-finishing portion on competition grounds. Graco completed the acquisition in 2012 under a hold-separate arrangement, integrated the powder business, and later divested the liquid-finishing operations while retaining Gema. Under later leadership, Graco emphasized disciplined acquisitions, engineering-led product development, distribution expansion, manufacturing capacity, and entry into adjacent markets. The company invested in facilities in Minnesota, Ohio, China, Switzerland, and other locations. In 2021, Mark W. Sheahan became president and chief executive officer. In 2024, Graco announced a reorganization effective January 1, 2025, shifting from regionally organized activities toward a global customer-centered model with Contractor, Industrial, Powder, and Expansion Markets divisions. The reported segments became Contractor, Industrial, and Expansion Markets. Graco entered 2026 as a centennial company. It celebrated the anniversary through centennial-branded products, community giving, historical storytelling, and a land-art collaboration with Saype. The company also agreed to acquire Valco Melton for $447 million in cash, adding precision adhesive application and vision-based quality-assurance capabilities. In May 2026, Graco broke ground on a future headquarters in Dayton, Minnesota. Minneapolis remained the company’s worldwide headquarters as of August 2026, with a planned move to Dayton in 2027. The modern Graco business therefore represents a century-long transition from a specialized grease-gun maker into a global supplier of engineered fluid and powder handling technologies.

1. 2026Graco celebrates its centennial

   Graco marked 100 years with centennial products, community initiatives, historical programs, and a public art collaboration.

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2. 2026Valco Melton acquisition agreement announced

   Graco agreed to acquire Valco Melton for $447 million in cash, subject to closing conditions.

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3. 2026Dayton headquarters groundbreaking

   Graco began construction of a planned future global headquarters in Dayton, Minnesota.

   Source
4. 2025One Graco organizational model begins

   The company implemented a global operating structure organized around Contractor, Industrial, Powder, and Expansion Markets divisions.

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5. 2021Mark W. Sheahan becomes president and CEO

   Sheahan succeeded Patrick J. McHale as Graco’s president and chief executive officer.

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6. 2014Liquid-finishing operations divested

   Graco announced the sale of the liquid-finishing business assets while retaining the Gema powder-coating business.

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7. 2012ITW finishing acquisition completed

   The acquisition closed under FTC-related conditions, adding Gema powder-coating operations and liquid-finishing businesses that were held separately.

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8. 2011ITW finishing acquisition announced

   Graco agreed to acquire Illinois Tool Works’ finishing businesses in a $650 million cash transaction.

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9. 1981Graco Robotics joint venture established

   Graco formed Graco Robotics, Inc. with Edon Finishing Systems to pursue automated finishing applications.

   Source
10. 1979Sales reach approximately $100 million

    Growth reflected the expansion of spray-finishing and electrostatic-finishing technologies.

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11. 1969Gray Company becomes Graco Inc. and goes public

    The company adopted the Graco name and became publicly traded as it expanded beyond its original lubrication focus.

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12. 1957Airless spray gun introduced

    The product helped establish Graco in paint application, industrial finishing, and contractor markets.

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13. 1954Hanna properties purchased in Minneapolis

    The acquisition provided a long-term site for corporate and manufacturing expansion along the Mississippi River.

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14. 1945Industrial Equipment Division formed

    After wartime production, Gray Company broadened its business beyond lubrication equipment and developed industrial fluid-handling products.

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15. 1941Annual sales reach approximately $1 million

    The company had expanded its lubrication-equipment business before entering the wartime production period.

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16. 1926Gray Company founded in Minneapolis

    Russell and Leil Gray established Gray Company to manufacture and sell Russell Gray’s air-powered grease gun.

    Source

A global industrial technology brand focused on durable, precise, and productivity-oriented fluid and powder handling systems for contractors, manufacturers, process industries, maintenance organizations, and original-equipment manufacturers.

• Contractor EquipmentContractor equipment

  The Contractor portfolio serves professional painters, construction contractors, maintenance crews, striping contractors, and do-it-yourself users. It includes airless and air-assisted paint sprayers, fine-finish and texture equipment, roof-coating systems, line-striping machines, pressure washers, hoses, guns, tips, and accessories. Products are designed to increase application speed and consistency while supporting a wide range of architectural coatings and job-site conditions.

• Airless Paint SprayersSpray-finishing equipment1957

  Graco’s airless sprayers use high pressure to atomize paint and coatings without relying on compressed air at the spray tip. The range spans compact homeowner units, professional contractor equipment, high-output systems, and specialized machines for protective coatings, texture, and large construction projects. The technology is central to Graco’s identity and traces its historical importance to the company’s 1957 airless spray gun.

• LineLazer and Line-Striping SystemsRoad and pavement marking equipment

  Line-striping systems apply traffic and pavement markings for roads, parking areas, athletic fields, airports, and commercial sites. Graco offers walk-behind, ride-on, and specialized configurations with spray and application controls intended to improve line definition, production speed, and material management. The product family extends the company’s contractor expertise into infrastructure maintenance and municipal applications.

• King and XTR Protective-Coating SystemsIndustrial and protective-coating equipment

  King and XTR equipment is designed for demanding protective-coating and corrosion-control applications. These systems support high-pressure spraying and material delivery for coatings used on infrastructure, steel structures, marine assets, tanks, bridges, and industrial equipment. Their value proposition emphasizes durability, pressure capability, application control, and suitability for harsh work environments.

• Reactor Proportioning SystemsFoam and polyurethane equipment

  Reactor systems meter, heat, and proportion two-component materials such as polyurethane foam and polyurea. They are used in insulation, roofing, waterproofing, protective coatings, and related applications where precise ratio control and temperature management affect finished-product performance. The range includes equipment for contractors and industrial users, together with hoses, guns, pumps, and application accessories.

• Industrial Pumps and Fluid-Transfer EquipmentIndustrial pumps and process equipment

  Graco supplies pneumatic, electric, hydraulic, and specialized pumps for transferring paints, oils, chemicals, lubricants, sealants, adhesives, food materials, water, wastewater, and other industrial fluids. Product families include drum and container pumps, double-diaphragm and piston technologies, high-pressure pumps, hoses, reels, valves, and controls. These products are used in production lines, service operations, fluid distribution, and maintenance systems.

• Gema Powder-Coating SystemsPowder-coating equipment2012

  Gema provides powder-coating application technology for industrial finishing. Its portfolio includes powder guns, controllers, pumps, booths, reclaim systems, reciprocators, and integrated finishing solutions. Graco retained the Gema powder business after divesting the liquid-finishing operations acquired from ITW, making powder coating a continuing part of Graco’s Industrial segment and global finishing strategy.

• Sealant, Adhesive, and Metering SystemsDispensing and process equipment

  These systems dispense, meter, mix, and apply sealants, adhesives, and other viscous materials. They serve automotive, packaging, construction, electronics, industrial assembly, and general manufacturing customers. Graco’s 2026 agreement to acquire Valco Melton was intended to extend this capability with precision adhesive application and vision-based quality assurance for packaging and industrial production.

• Automatic Lubrication SystemsLubrication equipment1926

  Graco’s lubrication portfolio includes automatic lubrication systems, pumps, meters, valves, controllers, activators, switches, reels, and service equipment. Applications include vehicles, industrial machinery, heavy equipment, service garages, lube trucks, and maintenance centers. The line preserves the company’s original expertise in grease and lubricant handling while incorporating automation and monitoring for more consistent maintenance.

• 2026Graco Centennial: A Century of Ingenuity

  Global

  Graco used its 100th anniversary to connect its 1926 Minneapolis origin with its current global industrial business. The program included historical storytelling, centennial-branded products, community giving, distributor and employee communications, and a public art installation by Saype in Dayton, Minnesota.

  Outcome. The centennial program reinforced Graco’s themes of engineering continuity, reliability, collaboration, and long-term investment while supporting the company’s transition toward a future Dayton headquarters.

  Source
• 2026Saype Dayton land-art installation

  United States

  Graco partnered with internationally known artist Saype on a temporary large-scale land-art project in Dayton, the future home of Graco’s global headquarters. The project was presented as a visual expression of connection, shared purpose, and the relationship between Graco’s Minnesota roots and its future.

  Outcome. The installation generated a public-facing centennial story and linked the company’s anniversary communications to its headquarters investment.

  Source
• 2026Centennial products collection

  Global

  Graco introduced a limited centennial-branded selection of equipment to commemorate a century of product engineering. The collection highlighted established solutions used by contractors and manufacturing professionals rather than launching a separate consumer brand.

  Outcome. The collection served as a product-led anniversary activation that tied brand heritage to current equipment platforms.

  Source
• 2026Graco Foundation centennial giving

  United States

  The Graco Foundation marked the centennial with a commitment to provide $1 million to Minnesota nonprofit organizations. The initiative positioned community investment as part of the company’s anniversary program.

  Outcome. The commitment expanded the civic and community dimension of Graco’s centennial communications.

  Source

• 2026Agree to acquire Valco MeltonM&A

  Graco identified precision adhesive application and production quality assurance as adjacent capabilities aligned with its existing fluid-handling expertise.

  What changed. Graco entered a definitive agreement to acquire Valco Melton for $447 million in cash, including the stated present value of expected tax benefits, subject to customary closing conditions.

  Aftermath. If completed, the transaction would expand Graco’s adhesive-dispensing portfolio and add vision-based quality-assurance systems used in packaging and industrial manufacturing.

  Acquisition consideration. 447 million USD in cash (Agreement announced May 21, 2026; expected closing in fiscal third quarter 2026)

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• 2026Invest in a future Dayton global headquartersStrategy

  Graco already operated manufacturing, distribution, engineering, and support facilities in Dayton and nearby Minnesota locations.

  What changed. The company broke ground on a new headquarters in Dayton, Minnesota, with a planned relocation from Minneapolis by 2027.

  Aftermath. The project is intended to place leadership closer to operating facilities and create a collaborative base for the company’s next phase of growth.

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• 2025Implement global customer-centered organizationStrategy

  Graco concluded that regional structures had created complexity and that a global division model could improve speed, market alignment, and coordination.

  What changed. Beginning January 1, 2025, Graco integrated regional activities into global Contractor, Industrial, Powder, and Expansion Markets divisions and reported three segments: Contractor, Industrial, and Expansion Markets.

  Aftermath. The One Graco model made Expansion Markets a platform for adjacent businesses and future acquisitions while preserving Contractor as a distinct reporting segment.

  Source
• 2014Sell liquid-finishing business assetsM&A

  The liquid-finishing operations acquired from ITW remained subject to the FTC process and were strategically separate from Graco’s retained powder-finishing business.

  What changed. Graco entered into an agreement to sell the liquid-finishing assets while retaining the Gema powder-coating operation.

  Aftermath. The divestiture resolved the structural issue created by the FTC challenge while allowing Graco to maintain a long-term position in powder finishing.

  Sale consideration. 590 million USD (Agreement announced October 8, 2014)

  Source
• 2011Agree to acquire ITW finishing businessesM&A

  Graco sought to strengthen its industrial finishing portfolio and expand its powder-coating and liquid-finishing presence internationally.

  What changed. Graco agreed to purchase Illinois Tool Works’ finishing businesses for $650 million in cash, including Gema powder technology and several liquid-finishing operations.

  Aftermath. The FTC challenged the liquid-finishing portion on competition grounds. Graco closed the transaction in 2012 under hold-separate conditions and later divested the liquid-finishing assets while retaining Gema.

  Acquisition consideration. 650 million USD (Announced April 14, 2011; closed April 2, 2012)

  Source
• 1969Rename Gray Company as Graco Inc. and become publicly tradedStrategy

  The company had expanded beyond its original grease-gun and lubrication focus into industrial pumps and spray-finishing technology.

  What changed. Gray Company adopted the Graco name and completed a public offering, creating a broader corporate identity for its growing industrial business.

  Aftermath. The Graco name became associated with fluid-handling, spray-finishing, and industrial equipment markets worldwide.

  Source

• 2026Graco appoints Sanjiv Gupta as chief financial officer

  Sanjiv Gupta was appointed chief financial officer and treasurer effective April 15, 2026, succeeding David M. Lowe, who announced his retirement after more than three decades with the company.

  Leadership change
  Source
• 2026Graco agrees to acquire Valco Melton

  Graco entered into a definitive agreement to acquire Valco Melton, a provider of precision adhesive application and quality-assurance systems, for $447 million in cash, subject to customary closing conditions.

  M&A
  Source
• 2026Graco breaks ground on future Dayton headquarters

  Graco held a groundbreaking ceremony in Dayton, Minnesota, for a future global headquarters intended to bring leadership teams closer to existing manufacturing and distribution operations. Relocation was planned for 2027.

  Other
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• 2026Graco marks centennial with Saype land-art project

  For its 100th anniversary, Graco partnered with artist Saype on a temporary large-scale land-art installation in Dayton, Minnesota, using the company’s centennial celebration to emphasize collaboration, continuity, and innovation.

  Campaign
  Source
• 2026Graco commits $1 million to Minnesota nonprofits

  The Graco Foundation announced a $1 million commitment to Minnesota nonprofit organizations as part of the company’s centennial activities.

  Campaign
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• 2026Graco reports record 2025 sales

  Graco reported record quarterly and annual sales for 2025 and identified acquisitions, product innovation, distribution expansion, and the One Graco model as key elements of its growth strategy.

  Other
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• 2026Graco reports record second-quarter 2026 sales and operating earnings growth

  Graco announced record second-quarter sales and operating earnings growth across all segments for the quarter ended June 26, 2026.

  Other
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• 2025Graco launches One Graco operating model

  The new operating model consolidated selected former regional and divisional activities and positioned Expansion Markets as a platform for adjacent businesses, future ventures, and acquisitions.

  Other
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• 2024Graco announces global organizational restructuring

  Graco announced that beginning January 1, 2025, it would move to a global customer-centered structure built around Contractor, Industrial, Powder, and Expansion Markets divisions, with regional operations integrated into global businesses.

  Leadership change
  Source
• 2014Graco announces sale of liquid-finishing assets

  Following the FTC review of the ITW transaction, Graco announced an agreement to sell its liquid-finishing business assets while retaining the Gema powder-coating business.

  M&ARegulation
  Source
• 2012Graco completes ITW finishing-business acquisition

  Graco completed its $650 million cash acquisition of ITW finishing businesses. Gema powder-coating operations were integrated, while the liquid-finishing assets were held separately under the FTC process.

  M&ARegulation
  Source
• 2011FTC challenges Graco’s proposed ITW finishing acquisition

  The Federal Trade Commission filed an administrative complaint arguing that the proposed purchase of Illinois Tool Works’ liquid-finishing businesses could reduce competition. Graco disputed the allegation; the transaction later closed subject to separation and divestiture requirements.

  RegulationLawsuitM&A
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1. Graco Company History
2. Graco Inc. official corporate website
3. Graco Leadership
4. Graco 2025 Form 10-K
5. Graco Inc. Announces New Organizational Structure to Drive Global Growth
6. Graco to Acquire the Finishing Businesses of ITW
7. Graco Closes Finishing Brands Acquisition
8. Graco Inc. Enters into Definitive Agreement to Acquire Valco Melton
9. Graco Breaks Ground on New Headquarters
10. Graco Marks 100 Years with Monumental Land Art by Saype
11. Graco Inc. Wikipedia article
12. Liquid-finishing operations divested
13. Mark W. Sheahan becomes president and CEO
14. Centennial products collection
15. Graco Foundation centennial giving
16. Agree to acquire ITW finishing businesses
17. Graco appoints Sanjiv Gupta as chief financial officer
18. Graco reports record 2025 sales
19. Graco launches One Graco operating model