November 04 2015
Translink advises Askoll on its 100% sale of Askoll Sei Srl to the Taco Group
Translink Strempel & Co. announces the signing of an agreement between Askoll and Taco, in which Taco Comfort Solutions purchased 100% of Askoll Sei Srl from Askoll Holding Srl. Askoll Sei is a world-class manufacturer of high efficiency circulation pumps, based in northern Italy.
The Taco Group with Taco Comfort Solutions, is a family-owned American manufacturer of HVAC heating, cooling, and plumbing products for the hospitality, education, municipal and residential markets. Discussing the transaction, John Hazen White Jr., CEO and Chairman of the Board of Taco Group, stated, "With this acquisition, Taco has transitioned from being an American company based in Rhode Island to a global company based in America."
Elio Marioni, President of Askoll, added that, "The transaction reflects the pragmatic decision for Askoll to focus in the core business of appliance components as well as strengthens the foundations of the new urban mobility project which Askoll considers key for its future growth".
Askoll is an Italian Group having revenues in excess of 250 million Euros with over 2,000 employees based in production facilities in Italy, Brazil, Mexico, Slovakia, Romania and China. It is one of the world’s largest and innovative producers of motors and pumps for home appliances in addition to having recently launched a division producing and commercializing eco-friendly electric vehicles.
Translink acted as the exclusive financial adviser to Askoll, with a team composed of Mauro Bussotti (Partner), David Strempel (Managing Partner), Giovanni Galli (Associate) and Francesca Scaravelli (Analyst). Leading up to the selection of Taco by Askoll, Translink had also attracted the interest of other industrial players across three continents likewise with the objective of strengthening the development of the Askoll Group and particularly its electric mobility initiative.
Press OfficeCristina Fagioli
T. +39 02 94555600
- "The Translink team executed the entire transaction process. I can warmly recommend them for any Corporate Finance-assignments"
Chairman of the Board, Anneli Koivunen,
- "Translink’s advisory ensured successful sales process completion with the terms that satisfied all the owners."
CEO and founder, Tomi Pulkki,
- "Translink Peakstone’s thoughtful guidance and dedication throughout the entire process were critical to achieving a very successful outcome that met all of our transaction objectives."
CEO, Mike Gibney,
- "Translink is a determined advisor. The outcome of the transaction was in line with our expectations. I believe the transaction will ensure Amomatic even better chances for continuous growth and development"
Former Chairman of the Board,
Olavi Ruokonen, Amomatic Oy