Annovi Reverberi Buys Ace Pumps
By Mike Osenga18 June 2018
Annovi Reverberi Group, an Italian manufacturer of diaphragm pumps for agriculture applications, high pressure washers and piston pumps for industrial applications, announced the acquisition of a 95% stake in Ace Pump Corp. Andy Randle, CEO of Ace, will retain a 5% stake.
Based in Memphis Tenn., Ace Pumps is a manufacturer of hydraulic motor driven, gas engine driven, PTO driven, belt driven and electric motor driven pumps for agricultural and off-highway equipment solutions. The company specializes in designing centrifugal pump solutions that operate off the electrical grid. Ace Pumps’ products are used in a variety of equipment including agricultural sprayers, asphalt milling machines, and volumetric (mix on-site) cement trucks.
Mario Reverberi and Stefano Reverberi, Co-CEOs of Annovi Reverberi Group, have commented as follows: “The acquisition of Ace Pumps represents a landmark moment for Annovi Reverberi Group. We believe Annovi Reverberi is the ‘natural home’ to Ace Pumps, given the strong complementarity of their products, the possibility of exploiting synergies in the US and abroad. The combination will enhance our international presence and mark the first US production site for the group.”