The Gorman-Rupp Co has entered right into a definitive agreement to accumulate the belongings of Fill-Rite and Sotera, a division of Tuthill Corp, for US$525 million.
Image © pichetw – stock.adobe.com.
Fill-Rite supplies liquid transfer pumps as nicely as a line of mechanical and digital meters, precision weights and measures, licensed meters, hand pumps, hoses, nozzles and accessories.
With facilities in Fort Wayne, Indiana and Lenexa, Kansas, USA, Fill-Rite has annual income of roughly US$140 million.
The Fill-Rite and Sotera manufacturers strategically expand Gorman-Rupp’s position in agriculture, building and recreation markets.
“We are extremely excited to welcome Fill-Rite’s impressive portfolio of mission-critical pumps and its outstanding team of staff to the Gorman-Rupp family,” mentioned Scott King, president and CEO of Gorman-Rupp. “Altogether, with our combined capabilities, we count on our revenues to reach over US$500 million yearly – a major milestone.”
“I first learned about Gorman-Rupp once I was in high school,” stated Jay Tuthill, chairman of Tuthill Corp. “ หลักการทำงานของเกจ์วัดแก๊ส was the summer of 1969 and I was being given a crash course on ‘Who’s Who in the Pump Business’. Now, greater than half a century later, I am thrilled to see Tuthill’s Fill-Rite business moving into the Gorman-Rupp orbit.”
Gorman-Rupp says that Fill-Rite aligns with its disciplined acquisition criteria focused on pumps and pumping solutions.
“We are happy to have found a associate that represents a wonderful strategic match for each firms, bringing collectively two pioneering move control companies with over one hundred fifty years of mixed experience operating as market-leaders,” stated Jeff Gorman, government chairman of Gorman-Rupp’s board of administrators. “This exceptional opportunity matches well into Gorman-Rupp’s overall strategic plan to search out well-suited opportunities for growth and innovation.”
Fill- เพรสเชอร์เกจไฮดรอลิค ’s administration group will proceed to steer the business as a new division of Gorman-Rupp.
Share