TACO GROUP COMPLETES AGREEMENT TO ACQUIRE ITALIAN PUMP MANUFACTURER ASKOLL SEI
FOR MORE INFORMATION CONTACT: Eugene Fina, Vice President Marketing, Taco Comfort Solutions, 401-942-8000/genfin@tacocomfort.com
TACO GROUP COMPLETES AGREEMENT TO ACQUIRE ITALIAN PUMP MANUFACTURER ASKOLL SEI
- Taco Group Purchases Askoll’s Indoor Space Heating Pump Division
- Askoll is World Leader in High Efficiency ECM Pumps
- New Taco Group Company: Askoll Flow Solutions™
- Acquisition of Askoll Catapults Taco to Global Company Status
At the AHR Expo, Orlando, FL, January 25, 2016 — The Taco Group has announced that it has completed its acquisition of Askoll® SEI SrL of Sandrigo, Italy, effective January 1, 2016. Askoll SEI, a manufacturer of advanced technology pumps for use in indoor heating, was formerly a subsidiary of Askoll Holding SrL, a well-established Italian manufacturer of high efficiency pumps used in a number of industries.
Askoll, which was founded in 1978, employs some 3,000 people in 10 companies focusing on advanced electric motored pumps. These pumps are used in applications involving aquariums, ponds and terrariums, industrial automation, space heating, and home appliances. Like Taco, Askoll is privately owned.
Terms & Benefits
The Taco Group, which signed a purchase and sales agreement with Askoll last October, now owns Askoll SEI’s pump patents, intellectual property and technical knowledge, its manufacturing facilities and capabilities based in Italy, and its sales and distribution network in Europe.
The new company will be called Taco Italia SrL and will use the trade name Askoll/Taco Flow Solutions™. It will be part of Taco EMEA (Europe, Middle East and Africa).
The acquisition of Askoll SEI will allow Taco to apply Askoll’s ECM (electronic commutated motor) technology to Taco’s pump products for sale in the U.S. and Canada and thereby stay ahead of unfolding regulatory requirements for higher energy efficiency in pumps, as required by the U.S. Department of Energy. Askoll pumps already exceed the rigorous standards imposed in the EU.
The acquisition will also provide Taco with an existing sales and distribution network (especially its people-focused relationship base) necessary to enter the European hydronic (“wet heat”) indoor heating market. Hydronic heating is the dominant form of heating used across the European continent.
Here in North America, Taco is rolling out its new 00e™ Series high-efficiency circulator line that employs Askoll’s ECM technology. Taco 00e circulators use up to 85% less electricity than a standard circulator and are ideal for use in hydronic systems zoned with circulators or zone valves.
Owner Comments
“This is a great strategic development for Taco,” commented John Hazen White, Jr., “and an objective we have been working on for some time with Askoll owner Elio Marioni and his team. It delivers Askoll’s world leadership in ECM pump technology to our products for our domestic customers, and it opens up the much larger European hydronic heating market to us. With this acquisition, Taco goes from being an American company based in RI to a global company based in the U.S.”
About Taco Comfort Solutions™
Taco Comfort Solutions™, a Taco Group Company, is a family-owned American manufacturer of HVAC heating, cooling and plumbing products. In business since 1920, the ISO 9001 company develops and manufactures a wide range of products and systems for both residential and commercial applications, to include circulators/pumps, valves and controls, air-dirt separators, heat exchangers, buffer and expansion tanks, domestic hot water and accessory products, and building management controls. Taco products are proudly made in America. Taco Comfort Solutions operates North American facilities in Cranston, RI, Fall River, MA and Marion, AR. Overseas Taco operates facilities in Milton, Canada and Binh Duong Province, Vietnam. The company serves the domestic OEM boiler market and the trade business through rep agencies and independent distributors serving plumbers and contractors across North America. www.tacocomfort.com
