The Gorman-Rupp Co has entered right into a definitive settlement to acquire the property of Fill-Rite and Sotera, a division of Tuthill Corp, for US$525 million.
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Fill-Rite provides liquid transfer pumps in addition to a line of mechanical and digital meters, precision weights and measures, certified meters, hand pumps, hoses, nozzles and accessories.
With amenities 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 increase Gorman-Rupp’s position in agriculture, building and recreation markets.
“We are extraordinarily excited to welcome Fill-Rite’s spectacular portfolio of mission-critical pumps and its excellent group of workers to the Gorman-Rupp household,” mentioned Scott King, president and CEO of Gorman-Rupp. “Altogether, with our combined capabilities, we expect our revenues to achieve over US$500 million annually – a big milestone.”
“I first realized about Gorman-Rupp once I was in high school,” said Jay Tuthill, chairman of Tuthill Corp. “ เกจวัดแรงดันลมดิจิตอล was the summer time 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 standards targeted on pumps and pumping solutions.
“We are pleased to have discovered a associate that represents a superb strategic fit for each companies, bringing collectively two pioneering flow control companies with over one hundred fifty years of mixed experience operating as market-leaders,” mentioned Jeff Gorman, executive chairman of Gorman-Rupp’s board of administrators. “This exceptional opportunity suits nicely into Gorman-Rupp’s general strategic plan to search out well-suited opportunities for expansion and innovation.”
Fill-Rite’s administration team will continue to lead the enterprise as a brand new division of Gorman-Rupp.
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