The Gorman-Rupp Co has entered right into a definitive settlement to amass the assets of Fill-Rite and Sotera, a division of Tuthill Corp, for US$525 million.
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Fill- เพรสเชอร์เกจ offers 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 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 expand Gorman-Rupp’s position in agriculture, construction and recreation markets.
“We are extremely excited to welcome Fill-Rite’s spectacular portfolio of mission-critical pumps and its excellent group of workers to the Gorman-Rupp family,” said Scott King, president and CEO of Gorman-Rupp. “Altogether, with our combined capabilities, we anticipate our revenues to achieve over US$500 million annually – a significant milestone.”
“I first realized about Gorman-Rupp when 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 within the Pump Business’. Now, greater 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 criteria centered on pumps and pumping solutions.
“We are happy to have found a companion that represents an excellent strategic match for both firms, bringing collectively two pioneering circulate control businesses with over 150 years of combined experience operating as market-leaders,” said Jeff Gorman, government chairman of Gorman-Rupp’s board of directors. “This distinctive alternative suits well into Gorman-Rupp’s total strategic plan to find well-suited opportunities for growth and innovation.”
Fill-Rite’s administration group will continue to guide the enterprise as a new division of Gorman-Rupp.