The Gorman-Rupp Co has entered into a definitive settlement to amass 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 as properly as a line of mechanical and digital meters, precision weights and measures, certified meters, hand pumps, hoses, nozzles and accessories.
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 expand Gorman-Rupp’s position in agriculture, development and recreation markets.
“We are extremely excited to welcome Fill-Rite’s spectacular portfolio of mission-critical pumps and its outstanding group of staff to the Gorman-Rupp family,” stated Scott King, president and CEO of Gorman-Rupp. “Altogether, with our combined capabilities, we count on our revenues to succeed in over US$500 million yearly – a significant milestone.”
“ เครื่องมือความดัน discovered about Gorman-Rupp after I was in highschool,” 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, more than half a century later, I am thrilled to see Tuthill’s Fill-Rite business transferring 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 pleased to have found a companion that represents a wonderful strategic match for each corporations, bringing collectively two pioneering circulate control companies 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 opportunity fits well into Gorman-Rupp’s general strategic plan to search out well-suited opportunities for enlargement and innovation.”
Fill-Rite’s management team will continue to steer the business as a new division of Gorman-Rupp.
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