The Gorman-Rupp Co has entered into a definitive agreement to accumulate 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 as well as a line of mechanical and digital meters, precision weights and measures, certified meters, hand pumps, hoses, nozzles and equipment.
With amenities in Fort Wayne, Indiana and Lenexa, Kansas, USA, Fill-Rite has annual income of approximately US$140 million.
The Fill-Rite and Sotera manufacturers strategically broaden 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 employees to the Gorman-Rupp family,” said Scott King, president and CEO of Gorman-Rupp. “Altogether, with our combined capabilities, we anticipate our revenues to reach over US$500 million yearly – a big milestone.”
“I first learned about Gorman-Rupp when I was in highschool,” stated Jay Tuthill, chairman of Tuthill Corp. “That was the summer time 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 transferring into the Gorman-Rupp orbit.”
Gorman-Rupp says that Fill-Rite aligns with its disciplined acquisition standards centered on pumps and pumping solutions.
“We are pleased to have discovered a associate that represents an excellent strategic fit for both firms, bringing together two pioneering move management businesses with over a hundred and fifty years of combined experience working as market-leaders,” stated Jeff Gorman, executive chairman of Gorman-Rupp’s board of directors. “ เกจวัดแรงดันpressuregauge matches nicely into Gorman-Rupp’s overall strategic plan to search out well-suited alternatives for growth and innovation.”
Fill-Rite’s administration staff will proceed to lead the business as a model new division of Gorman-Rupp.
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