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.
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Fill-Rite provides liquid switch pumps as well 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 brands strategically expand Gorman-Rupp’s place in agriculture, development and recreation markets.
“We are extraordinarily excited to welcome Fill-Rite’s spectacular portfolio of mission-critical pumps and its outstanding group of employees to the Gorman-Rupp household,” stated Scott King, president and CEO of Gorman-Rupp. “Altogether, with our mixed capabilities, we expect our revenues to succeed in over US$500 million annually – a big milestone.”
“I first learned about Gorman-Rupp after I was in highschool,” mentioned Jay Tuthill, chairman of Tuthill Corp. “ เกจวัดแรงดันไทวัสดุ was the summer time of 1969 and I was being given a crash course on ‘Who’s Who within the Pump Business’. Now, more than half a century later, I am thrilled to see Tuthill’s Fill-Rite enterprise shifting 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 found a companion that represents a wonderful strategic match for each corporations, bringing collectively two pioneering circulate control companies with over one hundred fifty years of mixed expertise operating as market-leaders,” stated Jeff Gorman, govt chairman of Gorman-Rupp’s board of directors. “This distinctive opportunity matches well into Gorman-Rupp’s overall strategic plan to find well-suited opportunities for growth and innovation.”
Fill-Rite’s management staff will continue to lead the business as a brand new division of Gorman-Rupp.