WAUKESHA, Wis.--(BUSINESS WIRE)--Dec. 10, 2012--
Generac Holdings Inc. (NYSE: GNRC), a leading designer and manufacturer
of back-up power generation products, today announced the closing of the
definitive share purchase agreement to acquire all of the shares of
Ottomotores UK Limited and its affiliates, which includes the operations
of Ottomotores Mexico and Ottomotores Brazil (collectively
“Ottomotores”). As previously disclosed in a press release dated
November 20, 2012, the total purchase price paid for the acquisition was
$46.5 million in cash, and is subject to certain net asset adjustments
based on the closing balance sheet. The closing of the transaction
occurred on Saturday, December 8, 2012.
About Generac (NYSE: GNRC)
Since 1959, Generac has been a leading designer and manufacturer of a
wide range of generators and other engine powered products. As a leader
in power equipment serving residential, light commercial, industrial and
construction markets, Generac's power products are available through a
broad network of independent dealers, retailers, wholesalers and
equipment rental companies. The Company markets and distributes its
products primarily under its Generac, Magnum and Ottomotores brand names.
About Ottomotores UK Limited
Founded in 1950, Ottomotores is a leader in the manufacture of
generating sets in Mexico and Latin America with exports to Middle East,
Far East, and Africa. Manufacturing generator sets in the range of 15kW
up to 2500kW for standby application as well as prime power or
continuous running, Ottomotores has a broad product offering to meet any
application or specification. For more information on Ottomotores,
please visit http://www.ottomotores.com.mx
SOURCE: Generac Holdings Inc.
Source: Generac Holdings Inc.
Generac Holdings Inc.
York A. Ragen
Chief Financial Officer
Director – Finance and Investor Relations