The Gorman-Rupp Co has entered into a definitive settlement to amass the belongings of Fill-Rite and Sotera, a division of Tuthill Corp, for US$525 million.
Image © pichetw – stock.adobe.com.
Fill- เกจวัดแรงดันน้ำดิจิตอล provides liquid switch pumps in addition to a line of mechanical and digital meters, precision weights and measures, licensed meters, hand pumps, hoses, nozzles and equipment.
With services in Fort Wayne, Indiana and Lenexa, Kansas, USA, Fill-Rite has annual revenue of approximately US$140 million.
The Fill-Rite and Sotera brands strategically increase Gorman-Rupp’s place in agriculture, construction and recreation markets.
“We are extraordinarily excited to welcome Fill-Rite’s spectacular portfolio of mission-critical pumps and its outstanding team of staff to the Gorman-Rupp family,” said Scott King, president and CEO of Gorman-Rupp. “Altogether, with our mixed capabilities, we anticipate our revenues to succeed in over US$500 million yearly – a big milestone.”
“I first realized about Gorman-Rupp once I was in high school,” mentioned Jay Tuthill, chairman of Tuthill Corp. “That was the summer season 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 moving into the Gorman-Rupp orbit.”
Gorman-Rupp says that Fill-Rite aligns with its disciplined acquisition standards focused on pumps and pumping solutions.
“We are happy to have discovered a partner that represents an excellent strategic fit for both firms, bringing together two pioneering flow management companies with over 150 years of mixed expertise working as market-leaders,” said Jeff Gorman, government chairman of Gorman-Rupp’s board of administrators. “This distinctive opportunity fits properly into Gorman-Rupp’s total strategic plan to find well-suited opportunities for growth and innovation.”
Fill-Rite’s administration group will proceed to steer the enterprise as a new division of Gorman-Rupp.
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