TACO ANNOUNCES COMPANY REORGANIZATION AND REBRANDING
Restructuring Designed to Grow and Diversify Taco to Meet Advancing Technologies and Changing Markets in HVAC & Beyond.
Taco, Inc. today announced a major reorganization of the company and its marketing direction in order to facilitate entry into additional industries and markets.
As a major growth strategy adopted by its owner, John Hazen White, Jr., his board of directors, new company Chief Operating Officer Wil VandeWiel and his 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. It will also develop the capability to provide non-hydronic product solutions to the HVAC industry as well as deliver product applications aimed at selected markets outside HVAC entirely.
To help accomplish this ambitious 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, VRF 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 non-comfort markets like agriculture and mining.
“To grow, Taco has to diversify,” explains Chairman of the Board and CEO John White, Jr., 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.”
As part of its restructuring effort, Taco has made the following management adjustments and promotions from among its current workforce: in all cases, these individuals will now have enhanced responsibilities and report to Wil VandeWiel as COO:
- Todd Facey, Senior Vice President, Residential Sales, responsible for all residential products and systems including wholesale distribution, field sales, OEM and national/key accounts, buying groups and training and trade programs.
- Bryan Payne, Senior Vice President, Engineered Products and Systems, responsible for engineered products and systems sales applications engineering, sales support, field sales, Taco University, Taco Canada and international sales.
- Greg Case, Executive Vice President, Research and New Product Development, responsible for new product development, product management, iWorx Engineering and Taco’s Engineering Lab.
- Robert Lee, Executive Vice President, Operations, responsible for operational activities for Taco’s circulator, commercial pump, controls and electronics and Fall River divisions, as well as U.S. and Canada facilities and warehouse operations.
- Chris Integlia, Executive Vice President, Strategy and Business Development, responsible for Taco Key Holdings, Inc., leadership on key strategic and financial decisions to include mergers-acquisitions and other strategic partnership opportunities.
- Gene Fina, Vice President, Marketing, responsible for strengthening the Taco brand identity across all divisions and business units.
Taco, Inc., headquartered in Cranston, RI, is a leading manufacturer of heating and cooling equipment, systems and accessories for use in residential, commercial and institutional buildings worldwide. Taco is a third generation family-owned company with manufacturing facilities in Cranston and Fall River, Massachusetts, a sales and distribution facility in Canada, and sales offices in Central America, the Middle East and Asia. For more information call (401) 942-8000 or visit www.TacoComfort.com.