Peter Allen Cook announced July 1 that he acquired Asheville, N.C.-based PECO, Inc. from the founder, Peter Hall. The financial terms of the transaction were not disclosed.
PECO purchased by Peter Allen Cook
Peter Allen Cook
Peter Allen Cook announced July 1 that he acquired PECO, Inc. from the founder, Peter Hall. The financial terms of the transaction were not disclosed.
Founded in 1972 and headquartered in Arden, N.C., a suburb of Asheville, PECO manufactures lawn vacuum systems for professional landscapers, homeowners and developers. In addition to trailer and bagger vacuums, the company makes brush cutters, blowers, concrete saws and power sprayers, as well as private-label attachments for zero-turn mower manufacturers. PECO also provides several Asheville-area businesses with custom metal fabrication, machining and assembly services. PECO currently has 20 employees, and the company sells its products through its network of dealers and distributors.
“PECO is a company with great products and great employees,” Cook said. “We believe we have a real opportunity to grow significantly over the next few years with a greater focus on customers, service and sales.”
Cook and his family moved to Asheville three years ago from Dallas, Texas. “My wife and I thought Asheville was the perfect place to raise our family,” he said. “We wanted to find a small- to mid-size company with great people, products and integrity. We think we can become a preferred employer and valuable member of the local business community.”
Cook has a degree in finance from Central Michigan University and has held many professional management positions in Ernst & Young, Concur Technologies and Electronic Data Systems. His wife, Susan Payne Cook, will also be involved in business, helping to create the new customer and sales strategies. She has a degree in finance from DePaul University. Currently, she is the global vice president of sales for business intelligence solutions at Hewlett-Packard.