Dearing Compressor Buys Kruman Equipment Co.
YOUNGSTOWN, Ohio – Dearing Compressor & Pump Co.’s acquisition of the Pittsburgh-based Kruman Equipment Co. merges two legacies in the industrial air compressor industry. Dearing, 3974 Simon Road, is the second oldest distributor of Gardner Denver distributors, while Kruman is the oldest.
The acquisition, announced late Monday, is Dearing’s first and doubles the company’s industrial air compressor business and provides a counterbalance to the dynamic energy market, said Vice President Becky Wall.
The merged operations will retain the Kruman name and employees will continue their same roles, operating as a division of Dearing with shared services and resources that maximize efficiency and productivity, said Dearing’s CEO and president, Rick Dearing.
Dearing Compressor will invest resources in developing Kruman as a division of their existing operations, Dearing said. The acquisition creates a concentration of resources to increase profitability and the potential for additional job opportunities at all levels of the organization.
“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,” Wall said. “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 expands Dearing’s market area, crucial in a demanding marketplace Wall said. The value of the Kruman brand complement’s Dearing’s strengths in service, technology and packaging operations, and the combined resources allows the company to serve an area ranging from northern Ohio through southern Pennsylvania and into West Virginia and Maryland, she said.
Dearing will lease the building at 3000 Penn Ave. in Pittsburgh from Kruman until plans to relocate operations elsewhere in Pennsylvania are made, she said.
The investment is “a bold next step,” said Dearing’s COO, Albin Dearing, “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.”
Kruman Vice President Brian Kruman said the transition has gone very smoothly.
“The fact that we were the oldest Gardner Denver dealer and they’re the second oldest, this makes perfect sense,” Kruman said. “We’re very excited that the Dearing family is pushing to keep my grandfather’s legacy intact.”
Founded in 1936, Kruman is a third-generation, family-owned distributor of 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. The company’s engineers and service technicians provide sales, repairs, training, installation and system design for all sizes and types of compressed air applications.
Copyright 2020 The Business Journal, Youngstown, Ohio.