GORMAN RUPP Business Summary

Gorman-Rupp Co (GRC) is a leading designer and global manufacturer of high-performance pumps and fluid-handling systems, primarily generating revenue through the transaction-based sale of equipment to diverse end-markets including municipal water, wastewater, construction, industrial, and fire suppression. The company operates through a single reportable business segment focused on the manufacture and sale of pumps, leveraging a vast distribution network to capitalize on infrastructure spending and the rising demand for liquid-cooling solutions in data center construction. As of early 2026, the company maintains a record order backlog of $244 million, positioning it as a specialized mid-market leader against larger diversified industrials such as Xylem Inc., Franklin Electric Co., ITT Inc., and Mueller Water Products. GRC distinguishes itself through its 53-year streak of annual dividend increases and a focus on high-margin, mission-critical liquid-handling applications. Founded in 1933 by Herbert H. Rupp and J.C. Gorman, the company maintains a leadership pedigree deeply rooted in industrial manufacturing excellence. The current executive team is led by President and CEO Scott A. King, who assumed the chief executive role in 2022 after serving as Chief Operating Officer, and Executive Vice President and CFO James C. Kerr. Strategic oversight is provided by Executive Chairman Jeffrey S. Gorman, a third-generation descendant of the co-founder who previously served as CEO for over two decades. The Board of Directors includes notable figures such as Lead Independent Director M. Ann Harlan (formerly of J.M. Smucker) and Vincent K. Petrella (former CFO of Lincoln Electric), ensuring a high level of financial and operational governance. The company is supported by a stable base of institutional investors, including BlackRock and Vanguard, alongside significant long-term ownership by the Gorman family.