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Graco Announces the Appointment of Mark W. Sheahan as Chief Executive Officer

Analyst Note

| Krzysztof Smalec, CFA |

Wide-moat-rated Graco announced the appointment of Mark W. Sheahan, the firm’s current chief financial officer, as president and chief executive officer, effective June 10, 2021. Concurrent with his appointment as CEO, Sheahan will also join the board of directors. He will succeed Patrick J. McHale, the firm's CEO since 2007, who announced his intention to retire. McHale will stay with Graco through Sept. 15, 2021, to assist with the transition.

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Company Profile

Business Description

Graco is a manufacturer of equipment used for managing fluids, coatings, and adhesives, specializing in difficult-to-handle materials. Graco’s business is organized into three segments: industrial, process, and contractor. The Minnesota-based firm serves a wide range of end markets, including industrial, automotive, and construction, and its broad array of products include pumps, valves, meters, sprayers, and equipment used to apply coatings, sealants, and adhesives. The firm generated roughly $1.7 billion in sales and $410 million in operating income in 2020.

88-11th Avenue Northeast
Minneapolis, MN, 55413
T +1 612 623-6000
Sector Industrials
Industry Specialty Industrial Machinery
Most Recent Earnings Dec 31, 2020
Fiscal Year End Dec 31, 2020
Stock Type Cyclical
Employees 2,800