Special to 1812Blockhouse
Mansfield’s Gorman-Rupp Company, a leading designer, manufacturer, and international marketer of pumps and pump systems, today announced that it has entered into a definitive agreement to acquire the assets of Fill-Rite and Sotera (“Fill-Rite”), a division of the Tuthill Corporation, for $525 million. When adjusted for approximately $80 million in expected tax benefits, the net transaction value is approximately $445 million. Gorman-Rupp expects to fund the transaction with cash on-hand and new debt. Subject to customary closing conditions and necessary regulatory approvals, the transaction is expected to close in the second quarter of 2022.More…
By 1812Blockhouse; PRNewsire
One Rock Capital Partners, LLC (“One Rock”) has announced that one of its affiliates has entered into a definitive agreement to acquire Therm-O-Disc, a subsidiary of Emerson (NYSE: EMR).
Therm-O-Disc is a leading designer and manufacturer of safety-critical sensors, thermal cutoffs and sealed connecting components primarily used in heating, ventilation and air conditioning, appliance, water heater, industrial, aerospace & defense, and transportation applications. Headquartered in Mansfield, Therm-O-Disc has over 4,000 employees globally.
“Therm-O-Disc is well-positioned as a leading global manufacturer of branded, essential sensor and safety products,” said R. Scott Spielvogel, Managing Partner of One Rock. “We are excited to collaborate with management to drive innovation, enhance strong operational capabilities and serve Therm-O-Disc’s customers, building on the long history as an industry leader.”More…
Special to 1812Blockhouse
Boyne Capital Partners has announced that its portfolio company, Pilot Power Group has acquired Trebel Energy, a leading provider of electricity and natural gas procurement services to municipal aggregation (CCA) and commercial clients in Ohio.
Headquartered in Mansfield, Trebel guides customers through the complex process of aggregation formation by i) educating and gathering approval from local residences, ii) analyzing and negotiating sustainable “energy choice” products from various retail energy providers, and iii) maintaining procurement programs post-contracting. Visit www.trebelllc.com for additional information.More…
A Mansfield radio station is changing hands, according to a broadcasting media publication AllAccess.com.
The site, which is said to be the web’s largest radio and music industry community, has shared that radio station WVMC will soon have new ownership after a recent transaction and approval by the FCC.
WVMC-FM went on the air in 1979 and has been owned by Mansfield Christian School. It has recently broadcast under a contemporary praise and worship music format.
According to the article, Mansfield Christian has agreed to sell the station to Soaring Eagle Promotions, Inc. for $190, 000. This price includes $20,000 in cash and $170,000 in a promissory note.
Get ready to enjoy more Slurpees.
Richland County’s seven Speedway locations are soon to become 7-Elevens after the sale of the Speedway chain by Marathon Petroleum Corporation.
Marathon recently announced that it and certain of its subsidiaries have entered into a definitive agreement with 7-Eleven, Inc., a wholly owned, indirect subsidiary of Seven & I Holdings Co., Ltd, whereby 7-Eleven will acquire Speedway for $21 billion in cash. More…
Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, has announced that its client, Richland Engineering Limited, has become part of the WallacePancher Group. The new relationship officially began February 5 and details were not disclosed.
Richland Engineering Limited (REL), located in Mansfield, celebrated its 50th anniversary in 2018 and provides highway and airport engineering, structural engineering, bridge design and inspection, municipal engineering, traffic engineering and surveying. More…
Horizon Publications has acquired The Shelby Daily Globe Inc., which includes The Shelby Daily Globe, the Willard Times-Junction, The New London Record, Firelands Farmer and the Shopper’s Helper from Scott Gove and the Stambaugh family according to Randy Cope of Cribb, Greene & Cope who represented the families. More…