The Gorman-Rupp Co has entered into a definitive agreement to amass the assets of Fill-Rite and Sotera, a division of Tuthill Corp, for US$525 million.
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Fill-Rite supplies liquid transfer pumps as well as a line of mechanical and digital meters, precision weights and measures, certified meters, hand pumps, hoses, nozzles and equipment.
With amenities in Fort Wayne, Indiana and Lenexa, Kansas, USA, Fill-Rite has annual revenue of approximately US$140 million.
The Fill-Rite and Sotera manufacturers strategically increase Gorman-Rupp’s place in agriculture, construction and recreation markets.
“We are extremely excited to welcome Fill-Rite’s impressive portfolio of mission-critical pumps and its excellent team of employees to the Gorman-Rupp family,” mentioned Scott King, president and CEO of Gorman-Rupp. “Altogether, with our combined capabilities, we anticipate our revenues to achieve over US$500 million yearly – a major milestone.”
“I first discovered about Gorman-Rupp once I was in highschool,” stated Jay Tuthill, chairman of Tuthill Corp. “That was the summer 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 moving into the Gorman-Rupp orbit.”
Gorman-Rupp says that Fill-Rite aligns with its disciplined acquisition standards centered on pumps and pumping options.
“ เครื่องมือวัดความดัน are pleased to have found a associate that represents an excellent strategic match for both companies, bringing together two pioneering circulate management businesses with over 150 years of combined experience working as market-leaders,” mentioned Jeff Gorman, govt chairman of Gorman-Rupp’s board of directors. “This distinctive alternative fits nicely into Gorman-Rupp’s total strategic plan to search out well-suited alternatives for enlargement and innovation.”
Fill-Rite’s management staff will continue to lead the enterprise as a new division of Gorman-Rupp.
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