The Gorman-Rupp Co has entered into a definitive agreement to acquire the belongings of Fill-Rite and Sotera, a division of Tuthill Corp, for US$525 million.
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Fill-Rite supplies liquid switch pumps as properly as a line of mechanical and digital meters, precision weights and measures, licensed meters, hand pumps, hoses, nozzles and equipment.
With amenities in Fort Wayne, Indiana and Lenexa, Kansas, USA, Fill-Rite has annual income of roughly US$140 million.
The Fill-Rite and Sotera manufacturers strategically broaden Gorman-Rupp’s place in agriculture, construction and recreation markets.
“We are extremely excited to welcome Fill-Rite’s spectacular portfolio of mission-critical pumps and its excellent staff of employees to the Gorman-Rupp household,” mentioned Scott King, president and CEO of Gorman-Rupp. “Altogether, with our combined capabilities, we count on our revenues to reach over US$500 million annually – a big milestone.”
“I first discovered about Gorman-Rupp when I was in highschool,” stated Jay Tuthill, chairman of Tuthill Corp. “That was the summer time of 1969 and I was being given a crash course on ‘Who’s Who in the Pump Business’. Now, greater than half a century later, I am thrilled to see Tuthill’s Fill-Rite business 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 happy to have found a companion that represents a superb strategic fit for each firms, bringing collectively two pioneering move management companies with over a hundred and fifty years of mixed experience working as market-leaders,” mentioned Jeff Gorman, govt chairman of Gorman-Rupp’s board of directors. “ เกจวัดแรงดันลมขนาดเล็ก into Gorman-Rupp’s general strategic plan to find well-suited opportunities for enlargement and innovation.”
Fill-Rite’s management team will continue to guide the business as a model new division of Gorman-Rupp.