MINNEAPOLIS, September 18, 2024--(BUSINESS WIRE)--Graco Inc. (NYSE:GGG), a worldwide leader in commercial and industrial fluid and powder handling systems, announced today a new organizational structure to unlock global growth opportunities and drive sustainable profitability and operational efficiency.

"Establishing a market-oriented global structure will ensure that we are well positioned long term to enter new markets, capitalize on our most significant opportunities and accelerate our growth," said Mark Sheahan, President and Chief Executive Officer of Graco.

Effective January 1, 2025, the company will move to a global, customer-centric operating structure with four business divisions: Industrial, Expansion Markets, Contractor and Powder. At that time, the South and Central America (SCA), Europe, Middle East and Africa (EMEA), and Asia Pacific (AP) regions, which previously operated independently, will be integrated into the business divisions.

Industrial Division:

The company’s current Industrial and Lubrication Equipment Divisions, along with the Process Transfer Equipment business that is part of the company’s Process Division, will be combined to form the new global Industrial Division. Peter J. O’Shea, current President, Worldwide Lubrication Equipment Division, and President, South and Central America, will serve as President, Industrial Division. In addition, with the integration of regions into the company’s global divisional structure, Anthony J. Gargano, current President, Asia Pacific, will become Global Sales Lead for the Industrial Division.

Expansion Markets:

The new Expansion Markets Division will focus on driving Graco’s inorganic growth in adjacent markets. The company’s existing environmental, semiconductor, high-pressure valves and electric motors businesses, together with select future ventures and acquisitions in new or adjacent markets, will reside within this newly-formed division. Timothy R. White, current President, Worldwide Process Division, will assume the role of President, Expansion Markets Division.

Contractor and Powder Divisions:

The company's Contractor Equipment Division, renamed the Contractor Division, will be restructured to serve the needs of our global customers. The Powder Division is currently structured as a global business and will continue to operate as it does today. Both divisions will retain their current executive leadership.

"The redesigned organization will simplify our operations, increase speed to market, drive efficiency and create alignment across the enterprise," said Sheahan. "These strategic changes will better position Graco to put our customers first, innovate, and align our investments with our top growth opportunities."