|Acquisition strengthens Generac’s position as a global leader in gaseous-fueled generators
WAUKESHA, Wis., Jan. 03, 2017 (GLOBE NEWSWIRE) -- Generac Holdings Inc. (NYSE:GNRC) (“Generac”), a leading designer and manufacturer of power generation equipment and other engine powered products, announced today it successfully closed the acquisition of Motortech Holding GmbH & Co. KG (“Motortech”). As previously reported on November 28, 2016, the transaction had been pending regulatory approval. MOTORTECH is a leading manufacturer of gaseous-engine control systems and accessories. The company’s gaseous-fuel sub-systems include knock detection, mixers, throttles and various controls, which are sold to European gas-engine manufacturers and to aftermarket customers. MOTORTECH employs over 250 people at its German headquarters, manufacturing plant in Poland and sales offices located in the U.S. and China.
Since 1959, Generac has been a leading designer and manufacturer of a wide range of power generation equipment and other engine powered products. As a leader in power equipment serving residential, light commercial and industrial markets, Generac's power products are available globally through a broad network of independent dealers, distributors, retailers, wholesalers and equipment rental companies, as well as sold direct to certain end user customers. For more information, go to www.generac.com.
Motortech was founded by the Virchow family in 1988 in Celle, near Hannover, Germany. The company started as a service and distribution organization, specializing in engine-replacement parts and stationary, gas-engine accessories. Today, the company has evolved into a leading global manufacturer of efficient gaseous engine systems for leading global OEMs. For more information, go to www.motortech.de.
Michael W. Harris
Vice President – Finance and Investor Relations
(262) 544-4811 x2675
Generac Holdings Inc