International.
Taco Group announced that it has completed the 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.
Taco, which signed a buy-sell agreement with Askoll last October, now owns Askoll's pump patents, intellectual property and know-how, as well as 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 Askoll electronic switched motor (ECM) technology to be applied in Taco's pump products for sale in the U.S. and Canada, and thus stay ahead of rolling out regulatory requirements for greater energy efficiency in pumps, as required by the Department of Energy (DOE). Askoll pumps already exceed the rigorous standards imposed in the European Union (EU).
