Gorman-Rupp to amass Tuthill’s Fill-Rite business

The Gorman-Rupp Co has entered right into a definitive settlement to accumulate the assets 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 in addition to 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 revenue of approximately US$140 million.
Quadruple -Rite and Sotera manufacturers strategically expand Gorman-Rupp’s place in agriculture, construction 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 mixed capabilities, we count on our revenues to achieve over US$500 million annually – a significant milestone.”
“I first realized about Gorman-Rupp when I was in high school,” 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, more than half a century later, I am thrilled to see Tuthill’s Fill-Rite enterprise moving into the Gorman-Rupp orbit.”
Gorman-Rupp says that Fill-Rite aligns with its disciplined acquisition standards targeted on pumps and pumping solutions.
“We are pleased to have found a partner that represents a superb strategic fit for both companies, bringing together two pioneering move management businesses with over one hundred fifty years of combined experience operating as market-leaders,” mentioned Jeff Gorman, government chairman of Gorman-Rupp’s board of administrators. “This exceptional alternative fits nicely into Gorman-Rupp’s overall strategic plan to search out well-suited alternatives for growth and innovation.”
Fill-Rite’s management team will continue to steer the business as a model new division of Gorman-Rupp.
Share

Leave a Comment