Italian Company Acquires Majority of Ace Pumps

Annovi Reverberi Group, an Italian manufacturer of diaphragm pumps for agriculture, announced last week it has acquired a 95 percent stake in Ace Pump Corp. CEO Andy Randle will retain a 5 percent stake in Ace Pumps.

Ace Pumps manufactures hydraulic motor driven, gas engine driven, PTO driven, belt driven and electric motor driven pumps for agricultural and off-highway equipment solutions.

Mario Reverberi and Stefano Reverberi, Co-CEOs of Annovi Reverberi Group, said: “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 U.S. and abroad, and the ‘customer oriented’ philosophy shared by the management teams of both companies.”

Source: Precision Farming Dealer

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