Aspen Pumps buys Brazil's Forming Tubing to grow HVACR reach in the Americas
What's the deal? Aspen PumpsDealroom has a profile for this one. Try Dealroom → Group has acquired Forming TubingDealroom has a profile for this one. Try Dealroom →, a Brazil-based maker of tubular components for the refrigeration and air conditioning market, for an undisclosed sum. The company will be managed by The Malco GroupDealroom has a profile for this one. Try Dealroom →, Aspen's Americas headquarters, expanding the group's presence in Latin America.
What's the endgame? The deal advances The Malco Group's strategy to build a stronger HVACR platform across the Americas, adding local manufacturing, customer relationships, and market expertise in Brazil. Forming Tubing has operated in the market for more than three decades.
What changes? Forming Tubing will keep operating under its own brand and current leadership. Its local presence is expected to support regional logistics and product access, starting with Aspen Pumps products already sold in Brazil.
"Forming Tubing gives The Malco Group an established presence in an important HVACR market and brings us closer to customers throughout the region," said Rich Benninghoff, chief executive officer of The Malco Group.
Who's behind it? Aspen Pumps Group, based in the UK, makes condensate removal pumps, tools, and HVACR accessories for the aftermarket. It is backed by InflexionDealroom has a profile for this one. Try Dealroom →, a mid-market private equity firm with over £11bn in assets under management.
The signal: The acquisition reflects continued consolidation in the HVACR sector, as established players use regional bolt-ons to extend their reach. For Aspen and Malco, Brazil offers a foothold to push a broader product portfolio across Latin America.
Read more: prweb.com
Image credit: Daryll90ca
