Taco announced April 29 a major reorganization of the company and its marketing direction. As a major growth strategy adopted by its owner, John Hazen White Jr., the board of directors, new company COO Wil VandeWiel and top operational management, Taco intends to leverage its 95-year experience in hydronic heating and cooling comfort to diversify by branching out from the HVAC industry into vertical markets for heating and cooling products.
The company also will develop the capability to provide nonhydronic product solutions to the HVAC industry as well as deliver product applications aimed at selected markets outside HVAC entirely.
To help accomplish this objective, the company is in the process of restructuring and rebranding itself, and it will pursue growth and diversification through new partnerships and acquisitions. Taco has been on such a path in recent years. In 2012, the company acquired Hydroflo, a manufacturer of vertical and submersible turbine pumps used in such industries as irrigation, mining and agriculture. Last year it entered into a strategic collaboration with Askoll, a worldwide leader in electric motor pumps.
Taco plans to extend its hydronic heating and cooling products/systems into plumbing, variable refrigerant flow and geothermal, expand its OEM and overseas businesses, and enter the hospitality market. The rebranding focus under way will emphasize that Taco, through its long experience and expertise in controlling the flow of water, delivers optimal comfort system solutions to its customers.
