PMC Global Inc., the privately-held industrial conglomerate in Sun Valley, sold its Gusmer Corp. unit last week to publicly-traded Graco Inc. for $45 million in cash.

In a related transaction, Graco also acquired the stock of PMC’s Gusmer Europe S.L. unit, based in Vilanova, Spain, for an additional $20 million.

Gusmer, based in Lakewood, N.J., manufacturers dispensing equipment used to apply insulation, sealants and protective coatings in construction. Combined with its European unit, Gusmer had sales totaling about $43 million in 2004.

Los Angeles-based Grief & Co. served as investment banker to PMC Global, which operates more than 30 companies in chemicals, pharmaceuticals, electronics, machinery and plastics.