Dearing Compressor & Pump Co., the second oldest Gardner Denver industrial air compressor distributor, recently completed its first ever acquisition, merging with the oldest Gardner Denver distributor, Pittsburgh-based Kruman Equipment.
The acquisition allows Dearing to effectively double its industrial air compressor business while providing counterbalance to the dynamic energy market.
CEO and President, Rick Dearing, announced that the newly merged operations will retain the Kruman name, and Kruman employees will continue in their same roles and operate as a division of Dearing, with shared services and resources that maximize efficiency and productivity. In addition to ensuring a smooth transition for employees, vendors and customers, Dearing will invest resources in developing Kruman as a division of their existing operations. The acquisition creates a concentration of resources to increase profitability, and the potential for additional job opportunities at all levels of the organisation.
As VP Becky Wall explains, “The cultures of both Dearing and Kruman reflect common values of family owned and operated, multigenerational businesses – making the blending of the two a natural fit and bringing together the best assets of both companies. With over 150 combined years of industry experience, both Dearing and Kruman have spent decades delivering a deep working knowledge of the products, parts and processes that ultimately have allowed them to offer their customers the most precise and effective application of systems and components.”
The acquisition positions Dearing for growth through territory expansion in a demanding marketplace by extending their overall footprint. The value of the Kruman brand will be a complement to Dearing’s industry-leading strengths in service, technology and packaging operations, and the combined resources will allow them to better serve new and existing customers across a seamless map of territories from northern Ohio down through southern Pennsylvania and into West Virginia and Maryland.
COO, Albin Dearing, describes Dearing’s investment in Kruman as “a bold next step, and part of a comprehensive vision plan that includes continued expansion, increased revenue, ongoing implementation of technology, a balance between our industrial and energy operations, consistency of standardised processes, and contributions to community – all while maintaining the integrity of our family values and a responsibility to create continued opportunities for our employees.”
Read the article online at: https://www.worldpipelines.com/business-news/15022018/two-air-compressor-legacies-merge/