Taco Group Completes Acquisition of Askoll Sei
Purchases Askoll’s indoor space heating pump division
CRANSTON, R.I. — The Taco Group announced it has completed its acquisition of Askoll® SEI SrL of Sandrigo, Italy. Askoll SEI, a manufacturer of advanced technology pumps for use in indoor heating, was formerly a subsidiary of Askoll Holding SrL.
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).
Taco said the acquisition of Askoll SEI will allow it to apply Askoll’s electronic commutated motor (ECM) 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 (DOE). Askoll pumps already exceed the rigorous standards imposed in the European Union (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 indoor heating market. Hydronic heating is the dominant form of heating used across the European continent.
In North America, Taco is rolling out its new 00e™ Series high-efficiency circulator line that employs Askoll’s ECM technology. Taco said the 00e circulators use up to 85 percent less electricity than a standard circulator and are ideal for use in hydronic systems zoned with circulators or zone valves.
“This is a great strategic development for Taco,” said John Hazen White Jr., CEO, “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 Rhode Island to a global company based in the U.S.”
For more information, visit www.taco-hvac.com.
Publication date: 2/8/2016