North American pump manufacturer becomes a global player.
November 9, 2015
Taco Comfort Solutions has announced that it has signed an agreement with Askoll Holding srl to acquire 100 per cent of Askoll Sei, a pump manufacturer of high efficiency pumps, located in Sandrigo, Italy. The deal is the latest development between the two companies.
Taco had entered into a strategic collaboration with Askoll in 2014 as part of its mandate to pursue growth and diversification through new partnerships and acquisitions. At the time of the partnership announcement, Taco was already assembling a high efficiency circulator for residential and light commercial applications, the VR1816, which employs Askoll’s variable speed technology, at its Cranston, RI plant.
Askoll employs some 3000 people in 11 companies focusing on advanced electric-motored pumps that are used in aquariums, ponds and terrariums, industrial automation, heating, and home appliances. In 30 years the research-driven company has registered over 800 patents.
The new company has been named Taco Italia srl, and will use the trade name Askoll Flow Solutions. Askoll is the licensed trademark of Askoll Holding srl. The agreement was signed at Askoll’s headquarters in Dueville, Italy by Elio Marioni, Askoll’s founder and president, and John Hazen White Jr., CEO and chairman of the board of Taco Group.