With facilities in Fort Wayne, Indiana and Lenexa, Kansas, USA, 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.
“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,” said Scott King, president and CEO of Gorman-Rupp.
When adjusted for approximately US$80 million in expected tax benefits, the net transaction value is approximately US$445 million. Gorman-Rupp funded the transaction with cash-on-hand and new debt. The new debt includes a US$350 million term loan and an unsecured subordinated term loan of US$90 million. Gorman-Rupp also entered into a US$100 million revolving credit facility.
