UK/ITALY: Aspen Pumps is set to acquire Vecamco, an Italian manufacturer and distributor of HVACR components and accessories.
Formed in 1982 and based in Cervarese Santa Croce, near Padova, Vecamco offers a range of own-brand products including condensate pumps and drain systems, air conditioning and refrigeration support systems and brackets, line set covers, grilles and chemicals.
Vecamco recorded a turnover of €12.8m in 2021, achieving a profit of €782,000. The purchase price has not been revealed.
The company has also established outlets and offices in Barcelona, Spain, and Pennsylvania in the US.
An Aspen statement says that Vecamco founder Dino Cappellari will be retiring after supporting the initial transition, while the senior leadership and employees will all stay on to take the business forward.
“Our business, like Vecamco, is built on a passion for innovation. We are excited to work together with the team at Vecamco to further develop our European business,” commented Aspen CEO Adrian Thompson.
Aspen Pumps did not answer questions posed by the Cooling Post, but said: “We are in the very early stages of the relationship, but we reiterate that it is business as usual at the moment.”