Youngstown company makes first acquisition

February 27, 2018 by  

Youngstown’s Dearing Compressor & Pump Co. recently acquired Kruman Equipment, based in Pittsburgh.

Both companies distribute Gardner Denver equipment; Dearing is the second-oldest distributor of Gardner Denver, while Kruman is the oldest. By acquiring Kruman, Dearing effectively doubles its business.

Dearing’s president and CEO, Rick Dearing, said Kruman will become a Dearing division, but will retain its name, and its employees will continue in their positions as before. The acquisition will allow the two companies to share resources and services that will enhance their productivity and efficiency.

Dearing intends to devote resources to making sure the transition is smooth for vendors, employees, and customers, and that Kruman is brought successfully into existing operations. In addition to increasing resources available throughout the company, the acquisition has the potential to create new jobs throughout the organization.

Becky Wall, a company vice president, explains that Dearing and Kruman are similar in that they are family owned and operated, and have been in the same families for generations, making the acquisition a good fit for both. Together, they have more than 150 years of experience in the industry, and have extensive knowledge of their parts, products, and services.

After a transaction like this, company officials have the chance to work with stationery printers to create appropriate letterheads for the organization, announcing the new agreement.