Two Industrial Air Compressor Legacies Merge: Dearing Compressor & Pump Co. Announces Acquisition of Pittsburgh-Based Kruman Equipment

YOUNGSTOWN, Ohio–(BUSINESS WIRE)–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 their 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 organization.

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 standardized processes, and contributions to community
— all while maintaining the integrity of our family values and a
responsibility to create continued opportunities for our employees.”

ABOUT GARDNER DENVER

Gardner Denver is a global manufacturer of compressors, pumps, blowers
and other engineered solutions for various industrial applications. They
specialize in highly engineered compressed air and vacuum solutions used
across a range of industries, including pumps and consumable products
used in oil and gas production, as well as air treatment systems,
genuine replacement parts, and fluid transfer equipment for the
chemicals, green technology and food and beverage industries. http://www.gardnerdenver.com/en/brands-overview

ABOUT KRUMAN EQUIPMENT

Established in 1936, Kruman Equipment Company in Pittsburgh, PA is a
full service distributor for energy-efficient and reliable lubricated
and oil-free rotary screw and reciprocating air
compressors, refrigerated and regenerative desiccant air
dryers, air
filtration, regulation and lubrication products, aluminum piping
systems, oil/water separators, electric drain valves, and nitrogen
generators. Trained engineers and service technicians provide sales,
repairs, training, installation and system design for all sizes and
types of compressed air applications. Kruman is a 3rd
generation family-owned business with a reputation for its standards in
customer support and service across territories that include
Pennsylvania, West Virginia and Maryland. https://kruman.com/

ABOUT DEARING COMPRESSOR & PUMP CO.

Dearing is a family business operating in Youngstown, OH as the industry
leader in industrial compressor distribution and packaging. For over 70
years, Dearing has based their reputation on service, reliability,
integrity and innovation, and responsibly serves industrial and energy
customers with dependable equipment and systems for compressed air, gas,
process gas and hydraulic applications. The manufacturers they represent
provide the absolute best equipment and support available in the
marketplace today. Dearing continually matches these quality products
with engineering, design expertise, installation experience and quality
service to keep customers’ equipment running properly for years.

Albin P. Dearing III, who sold and serviced Gardner Denver industrial
air compressors, formed Dearing and Co. in 1945. It is the second oldest
remaining distributor for Gardner Denver in the U.S.A. The company’s
introduction to the oil and gas business came in 1960 by working on
Gardner Denver oil rig compressors. This later led to an expansion into
the natural gas compressor market within Ohio. Today, Dearing’s air and
gas compressors serve automotive, aluminum, plastic, chemical, food,
high-tech, lumber, rubber, steel and mining, as well as oil and gas
industries. http://www.dearingcomp.com/

Contacts

Prodigal for Dearing Compressor & Pump Co.
Jessica Thompson,
330-707-2088
[email protected]