The Gorman-Rupp Co has entered right into a definitive agreement to acquire the belongings of Fill-Rite and Sotera, a division of Tuthill Corp, for US$525 million.
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Fill-Rite offers liquid transfer pumps as properly as a line of mechanical and digital meters, precision weights and measures, certified meters, hand pumps, hoses, nozzles and equipment.
With facilities in Fort Wayne, Indiana and Lenexa, Kansas, USA, Fill-Rite has annual revenue of approximately US$140 million.
The Fill-Rite and Sotera manufacturers strategically broaden 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 employees to the Gorman-Rupp household,” mentioned Scott King, president and CEO of Gorman-Rupp. “Altogether, with our mixed capabilities, we expect our revenues to achieve over US$500 million yearly – a major milestone.”
“I first learned about Gorman-Rupp when I was in high school,” 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 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 targeted on pumps and pumping solutions.
“We are pleased to have discovered a associate that represents a superb strategic fit for both firms, bringing collectively two pioneering move management businesses with over 150 years of mixed experience working as market-leaders,” stated Jeff Gorman, executive chairman of Gorman-Rupp’s board of administrators. “ pressure gauge weksler ราคา fits properly into Gorman-Rupp’s total strategic plan to search out well-suited opportunities for enlargement and innovation.”
Fill-Rite’s administration group will continue to steer the business as a new division of Gorman-Rupp.
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