Gorman-Rupp Completes Acquisition of Fill-Rite and Sotera

The Gorman-Rupp Company completed its previously announced acquisition of Fill-Rite and Sotera, a division of Tuthill Corporation, for $525 million. The net transaction value is approximately $445 million after adjusting for expected tax benefits. The deal was funded with cash-on-hand and new debt, including a $350 million term loan, a $90 million unsecured subordinated term loan, and a $100 million revolving credit facility.

“The Gorman-Rupp Company (NYSE: GRC) (the “Company”), a leading designer, manufacturer, and international marketer of pumps and pump systems, announced today that it has completed its previously announced acquisition of Fill-Rite and Sotera (“Fill-Rite”), a division of the Tuthill Corporation, for $525 million.”

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