The Gorman-Rupp Co has entered into a definitive agreement to amass the property of Fill-Rite and Sotera, a division of Tuthill Corp, for US$525 million.
Image © pichetw – inventory.adobe.com.
Fill- ที่วัดแรงดัน offers liquid switch pumps as nicely as a line of mechanical and digital meters, precision weights and measures, licensed meters, hand pumps, hoses, nozzles and accessories.
With facilities in Fort Wayne, Indiana and Lenexa, Kansas, USA, Fill-Rite has annual income of roughly US$140 million.
The Fill-Rite and Sotera brands strategically increase Gorman-Rupp’s position in agriculture, building and recreation markets.
“We are extremely excited to welcome Fill-Rite’s spectacular portfolio of mission-critical pumps and its excellent team of employees to the Gorman-Rupp household,” mentioned Scott King, president and CEO of Gorman-Rupp. “Altogether, with our combined capabilities, we anticipate our revenues to succeed in over US$500 million yearly – a significant milestone.”
“I first learned about Gorman-Rupp when I was in high school,” mentioned Jay Tuthill, chairman of Tuthill Corp. “That was the summer 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 enterprise transferring 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 discovered a companion that represents an excellent strategic match for each firms, bringing collectively two pioneering flow control businesses with over 150 years of mixed experience operating as market-leaders,” stated Jeff Gorman, executive chairman of Gorman-Rupp’s board of administrators. “This exceptional opportunity fits nicely into Gorman-Rupp’s overall strategic plan to search out well-suited opportunities for expansion and innovation.”
Fill-Rite’s management staff will continue to lead the enterprise as a model new division of Gorman-Rupp.
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