The Gorman-Rupp Co has entered into a definitive settlement to amass the property of Fill-Rite and Sotera, a division of Tuthill Corp, for US$525 million.
Image © pichetw – stock.adobe.com.
Fill-Rite provides liquid transfer 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 roughly US$140 million.
The Fill-Rite and Sotera brands strategically expand Gorman-Rupp’s position in agriculture, building and recreation markets.
“We are extremely excited to welcome Fill-Rite’s spectacular portfolio of mission-critical pumps and its outstanding team of staff to the Gorman-Rupp family,” stated Scott King, president and CEO of Gorman-Rupp. “Altogether, with เครื่องวัดแรงดันเกจที่นิยมใช้ combined capabilities, we anticipate our revenues to achieve over US$500 million annually – a major milestone.”
“I first discovered about Gorman-Rupp after I was in highschool,” said 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 in the Pump Business’. Now, greater than half a century later, I am thrilled to see Tuthill’s Fill-Rite enterprise transferring into the Gorman-Rupp orbit.”
Gorman-Rupp says that Fill-Rite aligns with its disciplined acquisition criteria targeted on pumps and pumping options.
“We are happy to have discovered a associate that represents a wonderful strategic fit for each corporations, bringing together two pioneering move management companies with over a hundred and fifty years of combined expertise working as market-leaders,” stated Jeff Gorman, executive chairman of Gorman-Rupp’s board of administrators. “This exceptional alternative matches properly into Gorman-Rupp’s general strategic plan to seek out well-suited alternatives for growth and innovation.”
Fill-Rite’s management team will proceed to steer the enterprise as a model new division of Gorman-Rupp.
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