The Gorman-Rupp Co has entered into a definitive settlement to accumulate the property of Fill-Rite and Sotera, a division of Tuthill Corp, for US$525 million.
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Fill-Rite supplies liquid transfer pumps in addition to a line of mechanical and digital meters, precision weights and measures, certified meters, hand pumps, hoses, nozzles and equipment.
With services in Fort Wayne, Indiana and Lenexa, Kansas, USA, Fill-Rite has annual revenue of roughly US$140 million.
The Fill-Rite and Sotera brands strategically increase Gorman-Rupp’s place in agriculture, building and recreation markets.
“We are extremely excited to welcome Fill-Rite’s spectacular portfolio of mission-critical pumps and its excellent group of employees to the Gorman-Rupp family,” stated Scott King, president and CEO of Gorman-Rupp. “Altogether, with our combined capabilities, we expect our revenues to achieve over US$500 million yearly – a major milestone.”
“I first realized about Gorman-Rupp when I was in high school,” stated Jay Tuthill, chairman of Tuthill Corp. “ เกจวัดแรงดัน300psi was the summer time of 1969 and I was being given a crash course on ‘Who’s Who within the Pump Business’. Now, more than half a century later, I am thrilled to see Tuthill’s Fill-Rite enterprise shifting into the Gorman-Rupp orbit.”
Gorman-Rupp says that Fill-Rite aligns with its disciplined acquisition criteria targeted on pumps and pumping solutions.
“We are pleased to have discovered a companion that represents a superb strategic match for each corporations, bringing collectively two pioneering flow management businesses with over a hundred and fifty years of combined experience operating as market-leaders,” mentioned Jeff Gorman, executive chairman of Gorman-Rupp’s board of administrators. “This exceptional opportunity matches nicely into Gorman-Rupp’s general strategic plan to search out well-suited alternatives for enlargement and innovation.”
Fill-Rite’s management group will proceed to steer the business as a new division of Gorman-Rupp.