Gorman-Rupp Completes Acquisition of Fill-Rite

The Gorman-Rupp Company announced that it has completed its previously announced acquisition of Fill-Rite and Sotera, a division of the Tuthill Corporation, for $525 million.
Gorman-Rupp Completes Acquisition of Fill-Rite

Image source: The Gorman-Rupp Company

When adjusted for approximately $80 million in expected tax benefits, the net transaction value is approximately $445 million. Gorman-Rupp funded the transaction with cash-on-hand and new debt. The new debt includes a $350 million term loan and an unsecured subordinated term loan of $90 million. In addition, the Company also entered into a $100 million revolving credit facility.

With facilities in Fort Wayne, Indiana and Lenexa, Kansas, the Fill-Rite and Sotera brands carry strong legacies associated with superior products and hold leadership positions in attractive niche pump markets. Fill-Rite provides rugged, high-performance liquid transfer pumps as well as a comprehensive line of mechanical and digital meters, precision weights and measures certified meters, hand pumps, hoses, nozzles, and accessories.

Scott King, President and Chief Executive Officer of Gorman-Rupp said “We are excited to welcome Fill-Rite and its outstanding team of employees to the Gorman-Rupp family. The closing of this transaction is the first step to realizing the great benefits of bringing together two pioneering flow control businesses with over 150 years of combined industry experience. I want to thank the teams at Gorman-Rupp, Fill-Rite, and Tuthill, for their incredible efforts to get us to closing today and helping to ensure a smooth, effective transition as we integrate Fill-Rite with Gorman-Rupp.”

More articles on this topic

Market for Global End Suction Pumps Is Important with the Rise in Improvement in Business and Infrastructures Worldwide

22.06.2023 -

The anticipated size of the end suction pump market in 2022 was US$ 3.93 billion and is estimated to be US$ 4.2 billion in 2023. The market for global end suction pump market is important with the rise in improvement in business and infrastructures worldwide. Further, demand for the end-suction market has hugely expanded with the modernization of agriculture and wastewater treatment in vegetation.

Read more

New Liquid/Liquid Coalescers from Celeros Flow Technology

13.01.2023 -

Celeros Flow Technology has developed a new, high performance range of Liquid/Liquid (L/L) Coalescers for separating hydrocarbons from water phases. Offering a verified efficiency to <10ppm and outstanding contaminant capture rates, UNIQ-FLOW Liquid/Liquid Coalescers enable a reduction in vessel size and a longer time between filter changes, which results in a lower total cost of ownership (TCO).

Read more