The Gorman-Rupp Co has entered right into a definitive settlement to amass the property of Fill-Rite and Sotera, a division of Tuthill Corp, for US$525 million.
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Fill-Rite supplies liquid transfer pumps in addition to 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 income of approximately US$140 million.
The Fill-Rite and Sotera manufacturers strategically broaden Gorman-Rupp’s place in agriculture, construction and recreation markets.
“We are extremely excited to welcome Fill-Rite’s spectacular portfolio of mission-critical pumps and its excellent staff of employees to the Gorman-Rupp household,” said 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 significant milestone.”
“I first discovered about Gorman-Rupp after I was in highschool,” said Jay Tuthill, chairman of Tuthill Corp. “That was the summer of 1969 and I was being given a crash course on ‘Who’s Who within the Pump Business’. Now, เกจวัดแรงดันดิจิตอล 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 standards focused on pumps and pumping options.
“We are pleased to have found a companion that represents a superb strategic fit for each firms, bringing together two pioneering move control companies with over 150 years of mixed experience working as market-leaders,” said Jeff Gorman, government chairman of Gorman-Rupp’s board of administrators. “This distinctive opportunity matches well into Gorman-Rupp’s total strategic plan to search out well-suited opportunities for growth and innovation.”
Fill-Rite’s administration group will proceed to lead the business as a new division of Gorman-Rupp.