Acquisition Prepares Dearing Compressor for Growth
YOUNGSTOWN, Ohio — The acquisition of a major distributor in 2018 opened up new opportunities for Boardman-based Dearing Compressor and Pump Co., says Becky Wall, vice president and chief financial officer.
Dearing acquired Pittsburgh-based Kruman Equipment, the oldest distributor of US Gardner Denver air compressors. With this acquisition, it now serves the air compressor market that stretches from northern Ohio through southern Pennsylvania and into West Virginia and Maryland.
Dearing Compressor distributes and builds equipment for the compressed air, gas, process gas and hydraulic application industries.
“Orders for gas compressor packages continue to be hard fought in the energy market,” Wall says. Yet there are signs that this market is improving in the Northeast. “Packages are being ordered for the Marcellus and Utica regions once again,” she reports.
Dearing projects more robust business in 2019 similar to the period between 2013 and 2015, when orders for natural gas operations hit peak levels. Employment has returned to record levels with nearly 250 workers.
“The 2019 outlook is promising for Dearing to continue as a family business dedicated to offering its core products while also expanding, developing and improving products and people within the organization,” Wall says. “One of the key challenges is having the resources to keep up with the service and overhaul of aging equipment while commissioning the new equipment.”
Dearing has developed a team of field engineers to complement its mechanical team, all of whom are dedicated to resource planning and maintaining high standards of customer service, she continues.
In 2018 the company further invested in its people and expanded employee benefits, career pathways, technology, “family fun” and community giving, Wall says. Dearing also added products to sell and acquired several industrial pump lines.
Dearing remains engaged in partnerships with area school districts and educational initiatives such as work-study programs, internships and other efforts to teach students about careers in manufacturing, she says.
Among the charitable initiatives was a raffle held at Dearing’s December holiday party, where a gift of $10,000 was dedicated to the Help Network of Northeast Ohio, which administers the 211 Lifeline program for adults and children.
Copyright 2024 The Business Journal, Youngstown, Ohio.