Mansfield, Ohio – The Gorman-Rupp Company (NYSE MKT: GRC) announces that its wholly-owned subsidiary, Patterson Pump Company (“Patterson”), has completed its acquisition of the business of Morrison Pump Company (“Morrison”) based in Hollywood, Florida. The terms of the asset purchase are undisclosed.
Morrison’s and Patterson’s respective intents to enter into this acquisition were previously described in our related August 29, 2016 news release. The combination is expected to occur smoothly, including Morrison’s innovative product designs and manufacturing needs being strongly supported by Patterson’s significant manufacturing facilities and international distribution network.
Al Huber, President of Patterson, noted, “We are pleased to have completed this transaction this year and are looking forward to quickly integrating Jorge Cortes and Michael Murazzi and their staff to accelerate their growth in targeted niche markets complementary to Patterson’s international leadership positions based in the U.S.A. and Ireland.”