secwatch.observer — SEC 8-K summary
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Issuer:     GORMAN RUPP CO (GRC)
CIK:        0000042682
Form:       8-K
Filed at:   2022-04-27T23:59:59+00:00
Accession:  0001193125-22-121550
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gorman-Rupp acquires Fill-Rite for $525M; Q1 sales up 14.8% to $102.2M, EPS $0.29
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- Acquisition of Fill-Rite/Sotera from Tuthill for $525M; net ~$445M after $80M tax benefits; expected close Q2 2022.
- Fill-Rite generated ~$140M revenue and $34.5M adjusted EBITDA (25% margin) in trailing 12 months.
- Expected cash EPS accretive, double-digit accretion in 2023; combined revenues >$500M; dividend policy unchanged.
- Q1 2022 net sales $102.2M (+14.8% YoY); EPS $0.29 (incl $0.05 unfavorable LIFO); backlog $195.5M (+55.7%).
- Funded with cash and new debt; JPM committed $450M senior secured and $90M subordinated term loan.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/42682/000119312522121550/0001193125-22-121550-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/42682/000119312522121550/d574496d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-121550

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