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

The Gorman-Rupp Co has entered right into a definitive settlement to accumulate the property of Fill-Rite and Sotera, a division of Tuthill Corp, for US$525 million.
Image © pichetw – stock.adobe.com.
Fill-Rite supplies liquid switch pumps in addition to a line of mechanical and digital meters, precision weights and measures, certified meters, hand pumps, hoses, nozzles and equipment.
With services 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, development and recreation markets.
“We are extremely excited to welcome Fill-Rite’s spectacular portfolio of mission-critical pumps and its outstanding group of staff to the Gorman-Rupp family,” mentioned Scott King, president and CEO of Gorman-Rupp. “Altogether, with Cancel anytime combined capabilities, we count on our revenues to achieve over US$500 million yearly – a significant milestone.”
“I first discovered about Gorman-Rupp once 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, Secure 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 standards centered on pumps and pumping options.
“We are happy to have discovered a partner that represents a wonderful strategic match for each companies, bringing collectively two pioneering circulate control businesses with over 150 years of mixed expertise 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 expansion and innovation.”
Fill-Rite’s administration team will proceed to lead the enterprise as a brand new division of Gorman-Rupp.

Leave a Comment