Cranston, RI - January 5, 2009 - Taco, Inc. has announced that the Cranston, RI company has acquired the assets of Innovex Technologies, a Lewiston, ME-based manufacturer of Intelligent Building Systems products (IBS), that include stand alone control devices and accessories that offer a complete control solution for both residential and commercial buildings.
Announcement of the acquisition was made by Taco President and CEO, John Hazen White, Jr.
Mr. White said, "The addition of the Innovex Technologies product line is consistent with Taco's strategy to expand its electronics product offering and our continued focus on system selling. This is another way in which Taco will create value for our customers, further diversify the Taco product line and continue to move away from the industry's tendency of simply selling cast iron by the pound.
"This acquisition will provide Taco with a technology platform that will incorporate our existing line of pumps, hydronic controls and electronic control products along with our unique LoadMatch single pipe heating and cooling system into a networked controls solution that provides comfort in an energy efficient and environmentally friendly manner. This is a huge opportunity for Taco, its employees and the industry as a whole," added Mr. White.
Taco, Inc. is an ISO 9001 registered manufacturer of heating and cooling components for use with hydronic-based systems worldwide. The company supplies a wide range of high quality and long lasting products for residential, commercial and industrial applications.