Annovi Reverberi Group Acquisitino Ace Pumps
.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., 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, have commented as follows: “The acquisition of Ace Pumps represents a landmark moment for Annovi Reverberi Group.
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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.”.
Annovi Reverberi, a Modena-based company specialized in the production of diaphragm pumps for agricultural applications, piston pumps for industrial applications and high pressure washers, opens its first production plant in the USA, thanks to the acquisition of Ace Pump Corporation. In June, the Emilian company bought almost all the shares of Ace Pump (95%) while the remaining 5% remained with Andy Randle, the new CEO of the company based in Memphis, Tennessee.
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“The acquisition of Ace Pumps represents a fundamental moment for our group, and we believe that Annovi Reverberi is the “natural home” of Ace Pumps, given the strong complementarity of the products, the possibility of leveraging the synergies in the United States and abroad, and the customer-oriented philosophy shared by the management of both companies”, commented the two CEOs of Annovi Reverberi, Mario and Stefano Reverberi. Ace Pumps can boast a consolidated experience in the sector of motorized hydraulic pumps, driven by gas engines, power take-offs, belts and electric motors. The American company also designs and manufactures centrifugal pump solutions that operate off the power grid. This means a rich catalogue of products used on a wide range of equipment, especially on agricultural sprayers, road cutters and volumetric cement lorries. “The acquisition - added Mario and Stefano Reverberi - will further strengthen our international presence and allow us to have the first US production site for the group”. Positive comments also come from the management of the Memphis company.
“We are excited about the operation with Annovi Reverberi and we believe that the partnership will contribute to our continued growth. We are ready to work together - said Roy Bell III, former CEO of Ace Pumps, and Andy Randle, new CEO of Ace Pumps, - to expand the product range of Ace Pumps and lead its growth in both North America and abroad”.