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.
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Fill-Rite offers liquid transfer pumps as well as a line of mechanical and digital meters, precision weights and measures, licensed meters, hand pumps, hoses, nozzles and equipment.
With services in Fort Wayne, Indiana and Lenexa, Kansas, USA, Fill-Rite has annual revenue of approximately US$140 million.
differential pressure gauge ราคา -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 excellent team of employees to the Gorman-Rupp family,” said 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 significant milestone.”
“I first learned about Gorman-Rupp once 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 in the Pump Business’. Now, greater than half a century later, I am thrilled to see Tuthill’s Fill-Rite business transferring into the Gorman-Rupp orbit.”
Gorman-Rupp says that Fill-Rite aligns with its disciplined acquisition standards targeted on pumps and pumping options.
“We are happy to have discovered a associate that represents a superb strategic fit for both companies, bringing collectively two pioneering move control companies with over a hundred and fifty years of combined experience working as market-leaders,” mentioned Jeff Gorman, executive chairman of Gorman-Rupp’s board of directors. “This exceptional alternative matches properly into Gorman-Rupp’s overall strategic plan to search out well-suited alternatives for enlargement and innovation.”
Fill-Rite’s management group will continue to guide the enterprise as a brand new division of Gorman-Rupp.
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