Industrial Utility Efficiency    

Kruman Brothers Retire – Business in “Good Hands” with Dearing

On January 29, 2018, Pittsburgh-based Kruman Equipment Company completed its final business transaction, with the acquisition of the third-generation company by Youngstown, Ohio-based Dearing Compressor & Pump Co. The acquisition marked the merging of two of the oldest Gardner Denver industrial air compressor distributors; that final transaction on January 29 also marked 82 years — to the day — since Eric and Brian Kruman’s grandfather started the business.

The 82-year legacy of Kruman Equipment had come full-circle, and the Kruman brothers decided it was time to leave the legacy of the family business in the hands of Dearing’s leadership, another third-generation family business with whom they could trust their reputation and their established customer base.

Retirement for the Kruman brothers came at what they believed to be a fortuitous time. The opportunity began with a conversation between Eric Kruman and Dearing Chief Operating Officer, Albin Dearing. What started as a phone call and an interest in a partnership opportunity between the two companies led to a developing of relationships and more than a year of discussions and negotiations. The end result was an acquisition that allowed Dearing to effectively double their industrial air compressor business while providing counterbalance to the dynamic energy market. The Kruman brothers, meanwhile, saw the opportunity to leave their family legacy “in good hands” with Dearing, said Eric Kruman as he spoke about the transition on the first official day of his retirement.

“My brother and I wanted to exit the business together,” explains Kruman; thanks to a smooth transition and mutual agreement between the two companies, the brothers were able to do exactly that as they officially ended their roles at Kruman in June. As for what comes next for the Kruman brothers, Eric adds that “neither of us have had a summer vacation since high school,” and both Eric and Brian are looking forward to having the time for volunteer work and community service, to give back to the community that gave them and their family so much over the past 82 years. Kruman will retain ownership of the building located at 3000 Penn Avenue in Pittsburgh, and Dearing maintains its plan to keep the Pittsburgh facility in operation.

As Dearing Vice President Becky Wall explained, “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.”

Dearing President, Richard Dearing, describes the motivation behind Dearing’s interest in Kruman; “It was just the right fit culturally, strategically, geographically — and the timing made sense for both sides.” 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.

Albin described 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 both families’ values and a responsibility to create continued opportunities for all employees.”

As for the Krumans, they are confident that their customer base will be taken care of and positioned for continued success and growth in this new era under Dearing leadership. “Without our customer base, we wouldn’t have anything,” Eric gratefully acknowledges. “We want to thank them for their loyalty and their business, and we want to say thank you for a long run,” he concluded.

 

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. 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/.

 

About Kruman Equipment

Established in 1936, Kruman Equipment Company in Pittsburgh, PA was 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. 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.

 

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.