Mansfield, Ohio - June 3, 2014 - The Gorman - Rupp Company (NYSE MKT: GRC) announces that its wholly - owned subsidiary, National Pump Company (“NPC”) , has completed its purchase of the business of Bayou City Pump, Inc. ("BCP") based in Houston, Texas. During 2013, BCP had approximately $16 million in revenue from sales of its products and services through its Houston, Texas headquarters and its service faci lity location in Baton Rouge, Louisiana.
The terms of the a sset purchase agreement are undisclosed. Founded in 1973, BCP is a leading manufacturer of and service provider for highly - reliable and energy - efficient vertical turbine pumping systems primarily for the inland and coastal marine liquid petroleum and ch em ical transportation market. BCP has steadily expanded its product designs and service capabilities in rec ent years to become a significant market share provider in North American marine transportation. BCP also has dev eloped and manufactures a specialty sl udge pumping system for use in a variety of industrial applications.
BCP's growth will be enhanced through its integration wi th National Pump Company , a leading designer and manufacturer of vertical turbine pumps to the industrial, agricultural and munici pal markets in North and South America and in other global locations . BCP's product and service capabilities are expected to be expanded through resulting new product designs and added service locations in support of the marine industry, and enhanced throu gh NPC's American Petroleum Instit ute ("API") pump systems experti se.
Mark Barnes, President and COO of BCP said, "BCP focuses on providing best in class products and around - the - clock services for the marine industry. We are excited about our expansion pr ospects as we now pa r tner with the major additional ve r tical turbine product capabilities and experience of National Pump Company and the global multiple - markets pump systems reputation and resources of The Gorman - Rupp Company." Jeffrey S. G or man, Preside nt and CEO said, "BCP ' s strong customer relationships and long history will help expand sales in targeted niche markets complementary to National Pump Company's significant and grow ing ve r tical turbine products leadership position. In addition , its Houston , Texas base will provide additional capacity and machining capabilities in combination with National Pump's existing location acquired l ate in 2012, which together will assist The G or man - Rupp Company in expanding its growing Gulf Coast operations."