Gorman-Rupp Announces Subsidiary’s Acquisition
The Gorman-Rupp Company announces that its wholly-owned subsidiary, National Pump Company, has completed its purchase of the business of Bayou City Pump, Inc. based in Houston, Texas. During 2013, BCP had approximately $16 million in revenue from sales of its products and services through its Houston, Texas headquarters and its service facility location in Baton Rouge, Louisiana. The terms of the asset purchase agreement are undisclosed.
Founded in 1973, BCP is a leading manufacturer of and service provider for highly-reliable and energy-efficient vertical turbine pumping systems primarily for the inland and coastal marine liquid petroleum and chemical transportation market. BCP has steadily expanded its product designs and service capabilities in recent years to become a significant market share provider in North American marine transportation. BCP also has developed and manufactures a specialty sludge pumping system for use in a variety of industrial applications.
BCP s growth will be enhanced through its integration with National Pump Company, a leading designer and manufacturer of vertical turbine pumps to the industrial, agricultural and municipal markets in North and South America and in other global locations. BCP s product and service capabilities are expected to be expanded through resulting new product designs and added service locations in support of the marine industry, and enhanced through NPC s American Petroleum Institute ("API") pump systems expertise.
Mark Barnes, President and COO of BCP said, "BCP focuses on providing best in class products and around-the-clock services for the marine industry. We are excited about our expansion prospects as we now partner with the major additional vertical turbine product capabilities and experience of National Pump Company and the global multiple-markets pump systems reputation and resources of The Gorman-Rupp Company."
Jeffrey S. Gorman, President and CEO said, "BCP s strong customer relationships and long history will help expand sales in targeted niche markets complementary to National Pump Company s significant and growing vertical turbine products leadership position. In addition, its Houston, Texas base will provide additional capacity and machining capabilities in combination with National Pump s existing location acquired late in 2012, which together will assist The Gorman-Rupp Company in expanding its growing Gulf Coast operations."
Source: The Gorman-Rupp Company