Ideal Asset for Tuthill’s acquisition strategy
Strong commitment to continuous improvement and product development from both parties
Transaction expected to close in 2023
Burr Ridge, IL – Tuthill Corporation (“Tuthill”), a privately held business with a 130-year history of industrial manufacturing, has entered into an agreement to acquire EaglePicher Technologies (“EaglePicher”). The transaction is expected to close in 2023, subject to required regulatory approvals and other customary closing conditions.
Jay Tuthill, Chairman of Tuthill, is clearly excited. “It’s taken 130 years for Tuthill to reach this place – a place where we are able to join forces with a company like EaglePicher. It’s required the combined efforts of thousands of good people to make this possible. It’s a personal thing for me. I come from a military family. I believe in a strong America. I’m thrilled to know that, through EaglePicher, Tuthill will now be a direct contributor to the defense, space, and aviation industries that help to keep our country at the forefront.”
EaglePicher designs, develops, and produces mission-critical power systems. EaglePicher is an industry leader in defense and aerospace grade batteries, battery management systems, and energetic devices. The company serves critical defense, space, and aviation battery applications with locations in Joplin, MO, Seneca, MO, St. Louis, MO, Pittsburg, KS, East Greenwich, RI, and Southbridge MA, employing approximately 900 team members.
“Beginning in 2020, Tuthill intentionally divested its legacy industrial operations, with the aim of putting the company in strong position to make an acquisition like EaglePicher. This acquisition creates an exciting time for the employees of EaglePicher and Tuthill. It marks a significant step in our joint pursuit of excellence. The combination of these two storied franchises will allow us to deliver ever better products and services that safeguard our country. We look forward to bringing a new energy to EaglePicher,” said Steven Westfall CEO & President of Tuthill.
Tuthill identified EaglePicher as a strong, strategic fit for its acquisition strategy launched in 2022. Tuthill will offer its rich history of industrial manufacturing, market leadership, and continuous improvement to implement a roadmap of sustainable growth for the acquired business and the customers served.
ArentFox Schiff LLP is serving as legal counsel to Tuthill.
About Tuthill Corporation
Tuthill Corporation was founded in 1892 as a manufacturer of common brick supplying Chicago construction during the city’s rapid expansion. A need for better efficiency in hauling clay for brick production shaped the next phase of the company’s business. Tuthill Pump Company was established in 1927 to manufacture internal gear pumps. Over the next 100 years, Tuthill became a leading manufacturer of rotating equipment powering industries including agriculture, food & beverage, chemical processing, pharmaceutical, oil & gas, construction, medical, and mining around the world. For more information, visit www.Tuthill.com.
EaglePicher Technologies designs, develops and produces mission-critical power systems. EaglePicher is an industry leader in defense and aerospace grade batteries, battery management systems and energetic devices. For 100 years, the company has served critical defense, space and aviation battery applications. EaglePicher encompasses eight U.S. manufacturing and research and development sites and employs more than 850 team members.