The Gorman-Rupp Co has entered into a definitive agreement 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, licensed 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 manufacturers strategically expand Gorman-Rupp’s place 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 workers to the Gorman-Rupp family,” mentioned Scott King, president and CEO of Gorman-Rupp. “Altogether, with our mixed capabilities, we anticipate our revenues to reach over US$500 million annually – a big milestone.”
“I first discovered about Gorman-Rupp after I was in highschool,” mentioned Jay Tuthill, chairman of Tuthill Corp. “That was the summer season 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 business shifting into the Gorman-Rupp orbit.”
Gorman-Rupp says that Fill-Rite aligns with its disciplined acquisition criteria targeted on pumps and pumping solutions.
“ เกจวัดแรงดันสูง are pleased to have found a partner that represents an excellent strategic match for each corporations, bringing together two pioneering flow management companies with over a hundred and fifty years of mixed experience operating as market-leaders,” stated Jeff Gorman, executive chairman of Gorman-Rupp’s board of directors. “This exceptional opportunity matches nicely into Gorman-Rupp’s general strategic plan to find well-suited opportunities for enlargement and innovation.”
Fill-Rite’s administration staff will continue to lead the business as a brand new division of Gorman-Rupp.
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