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.
The company will employ its Hydroflo division to further penetrate noncomfort markets such as agriculture and mining.
“To grow, Taco has to diversify,” explains White, the third generation of his family to operate Taco. “We have been quite diligent in studying where Taco is and what it needs to accomplish to get where it wants to go in the years ahead. We have revitalized our board, conducted an international search for an experienced COO in Wil VandeWiel, laid out an aggressive strategy for diversification, and restructured our internal operations to provide a scalable organizational structure.
“All of these developments, I should add, go back to our core responsibilities to remain financially sound, independent and to maintain a stable environment for our employees, who will always be Taco’s greatest asset.”