Graco Buys ASM, Names New Management

Graco acquired ASM, an Orange, Calif.-based manufacturer of spray tips, guns, poles and accessories for the professional painter. Financial terms of the deal were not disclosed. ASM had sales of approximately $11 million in 2000.

Minneapolis-based Graco also announced it is searching for a new president and chief executive officer. Board member George Aristides is filling the role on an interim basis. The company named Dale Johnson vice president of its contractor equipment division, Charles Rescoria vice president of the industrial/automotive equipment division and Patrick McHale vice president of manufacturing.

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