Gorman-Rupp subsidiary to buy American Turbine PumpNovember 30, 2012
The National Pump Company -- a subsidiary of Gorman-Rupp -- plans to buy American Turbine Pump, according to a recent Gorman-Rupp news release. ATP is a group of companies that manufacture and distribute energy efficient vertical turbine and submersible pumps that serve agricultural, municipal and industrial markets.
Founded in 1975, ATP is headquartered in Lubbock, Texas with other locations in Houston and Fresno. The company reported $15 million in sales revenue last year. Gorman-Rupp anticipates the purchase to be completed by the end of this month, with the terms of the agreement undisclosed.
"ATP’s strong customer relationships and long history will help expand sales in target growth markets and complement existing brands of National Pump Company, acquired in 2010," says Jeffrey S. Gorman, Gorman-Rupp president and CEO. "In addition, ATP’s facilities will provide substantial additional capacity, including machining and testing capabilities, which will expand business opportunities of both brands."