August 17, 2022

Putting the Customer First for 90 Years with Scott King, CEO, and Jeff Gorman, Executive Chairman of The Gorman-Rupp Company (NYSE: GRC)

1 hour 3 minutes

Our guests on the show today are Scott King and Jeff Gorman, the CEO and Executive Chairman of The Gorman-Rupp Company, a 700 million dollar market cap company that designs, manufactures, and sells pumps and pump systems to customers all over the world. 2022 has been quite an eventful for year for the company. Earlier in the year, Jeff Gorman stepped back to Chairman, allowing Scott to become the CEO, despite not having the Gorman last name. The company also completed a very large acquisition of a company called Fill-Rite. Given those events and all of the other challenges in the world today, I was excited to speak with Scott and Jeff about:

The timing of the management transition and the expectation that Scott continue the company’s long history of dividend increases

The rationale for the Fill-Rite deal and why now was the right time to take a big swing—with some leverage;

The importance of culture and the family-like values that have persisted over the last 90 years;

Where the company is investing in technology and innovation; and

How the company approaches tough economics times given all of the different crises the company has weathered during its long history

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