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The company continued its acquisitions, buying the John Crane Company for $204 million and taking a 49% stake in the UK based Crane Packaging, followed by Warren Rupp for $25 million. With the heavy debt created by the LBO, the early 1980s recession, and Japanese competition in the machine tool manufacturing industry, profits disappeared.
Gorman-Rupp was founded in 1933 by two entrepreneurs, J.C. Gorman and Herb Rupp. Their simplified design of a self-priming, centrifugal pumps would form the core of their initial product line. [3] The company was contracted by the United States military during the Second World War. Diversifying their product line to include a variety of ...
Hale sells fire-trucks, portable pumps, ventilation systems, and the Hurst "Jaws of Life". [5] In January 1998, IDEX agreed to buy Gast Manufacturing of Benton Harbor, Michigan, for $118 million. Gast manufactures compressors, vacuum pumps, air motors and other products. [6] In 2011, IDEX Corporation acquired The Fitzpatrick Company. [7]
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