Taco Announces Reorganization
Company plans to diversify and facilitate entry into new industries and market channels
CRANSTON, R.I. — In order to diversify and facilitate entry into new industries and market channels, Taco® Inc. announced it has completed a major structural reorganization that starts with a change of name: Taco Inc. is now Taco Comfort Solutions™, a Taco Group Company.
The new name reflects Taco’s long experience and commitment to providing optimal indoor comfort while pursuing the highly efficient products that save energy and resources.
Under the privately-held company’s new organizational structure, Taco Comfort Solutions is a part of the Taco Group. Other worldwide elements of the Taco Group include Hydroflo Pumps/Fluid Solutions™ of Fairview, Tennessee; Askoll/Taco Flow Solutions™ of Sandrigo, Italy; and Taco Trading/Supply Chain Solutions Ltd.™ of Kowloon, Hong Kong.
The Taco Group includes operations and sales offices in the U.S, Canada, Panama, Italy, Dubai, South Korea, China, and Vietnam, making Taco a truly global brand.
In addition to expanding its core business in heating and cooling through its acquisition of Askoll’s indoor heating business and its entry into the European HVAC market, Taco Comfort Solutions intends to pursue growth and diversification through additional partnerships and acquisitions and to diversify by branching out into vertical HVAC and non-HVAC markets and channels.
One such non-HVAC, yet closely related, market is plumbing. Taco has developed smart plumbing products that conserve water and provide instant hot water. Drought in the Western U.S. has opened up new markets for these products based on the pressing need to save water.
Totally separate from HVAC and plumbing, Taco’s Hydroflo Pumps/Fluid Solutions company manufactures pumps used in the irrigation and agriculture industries. Hydroflo has assembly operations in Indiana, Arkansas, Texas, and California and a sales/distribution office in Panama City, Panama.
Taco’s 96-year history reflects continual product advancements in controlling the flow of water in hydronic-based systems. As a solutions provider, Taco has developed a broad portfolio of electronic controls, valves, tanks, pumps, heat exchangers, high-efficiency variable-speed drives, electronically commutated motor (ECM) circulators, and a wide array of ancillary product and accessories.
“This is a dynamic and exciting time for Taco,” said John Hazen White Jr., owner and chairman for Taco. “We are taking these actions from a position of strength and confidence to ensure Taco’s continuing success. As we do so, we will remain ever faithful and committed to the people and the core values that together have made Taco a great company. As Taco approaches its 100th anniversary in business, we are no longer an American company based in Rhode Island, but a global company based in the U.S.”
Publication date: 3/7/2016