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Aspen Pumps Group Acquires Malco Tools

Originally published
Originally published: 11/7/2024

Aspen Manufacturing, LLC (Aspen), one of the leading independent manufacturers of evaporator coils and air handlers for the residential and commercial heating, ventilation, and air conditioning (HVAC) marketplace in the U.S. and Canada, proudly announces the launch of its newly redesigned website. This upgrade offers a user-friendly, streamlined platform tailored to meet the needs of Aspen’s customers, providing easy access to their full range of high-performance coils and air handlers.

Malco Tools, Inc. one of the nation’s top manufacturers of high-quality tools for the HVAC and building construction industries, 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.”

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