Aspen Pumps Group Acquires Malco Tools

ANNANDALE, MN — Malco Tools, Inc. one of the nation’s top manufacturers of tools for the HVAC and building construction industries, has announced that it has been acquired by Aspen Pumps Group.

 

Aspen Pumps Group (Aspen) was founded by three air conditioning engineers in 1992, and now sells to over 100 countries worldwide. The United Kingdom-headquartered company has expanded globally to become an award-winning leader in products and solutions for the heating, ventilation, air conditioning and refrigeration (HVAC/R) industry, including condensate removal pumps, tools, cleaning chemicals, support systems and accessories.

With deep experience and capabilities in the HVAC/R aftermarket, Aspen has a strong portfolio of products and brands that strategically align with Malco, which will allow both brands to continue to grow and serve new markets. Malco Tools will continue to operate from its headquarters in Annandale, Minn., and will become the North American headquarters for Aspen, bringing on new tools and product lines that will serve a larger HVAC/R market. As part of this strategic expansion, Malco Tools President and CEO Rich Benninghoff will take on the new role of CEO of Aspen Pumps Group North America, effective immediately.

 

“Malco has built an extremely strong, and reputable business over the past 75 years and this agreement with Aspen Pumps Group will allow us to grow our business in ways that will allow us to be a successful, trusted brand for the next 75 years,” said Benninghoff. “Aspen Pumps Group is a strong partner for us from not only a business and opportunity perspective, but also from a mission and values standpoint as well. They’ve proven to us that they do what they say and focus on people first, which is important to what we do, and will continue to do at Malco.”

“We are very excited to welcome Malco Tools to the Aspen Pumps Group family,” said Adrian Thompson, CEO of Aspen Pumps Group. “Malco is an industry leader and has built a strong reputation among the HVAC and roofing/siding trades. We are looking forward to working with their talented team as we continue to grow the business and serve even more markets in the future.”

 

For more information about Malco Tools, visit www.malcotools.com. For more information about Aspen Pumps Group, visit www.aspenpumps.com.