WAUKESHA, Wis., June 04, 2018 (GLOBE NEWSWIRE) -- Generac Holdings Inc. (NYSE:GNRC), a leading global designer and manufacturer of generators and other engine powered products, closed on the previously announced agreement to acquire Selmec Equipos Industriales, S.A. de C.V. and its wholly-owned subsidiaries from Enesa Energia, S.A. de C.V. and Enesa, S.A. de C.V. Per our prior press release dated February 12, 2018, Selmec is a leading designer and manufacturer of industrial generators from 10 kW to 2,750 kW and other electric systems. The agreement includes the power generator product and after-sale support services of the business. With approximately 300 employees and 100,000 sq.ft. of production capacity, Selmec offers a market leading service platform and specialized engineering capabilities, together with robust integration, project management and remote monitoring services.
About Generac (NYSE: GNRC):
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.
About Selmec (Selmec Equipos Industriales, S.A. de C.V.):
With more than 75 years in the distributed energy market, Selmec designs and manufactures diesel generators from 10kW to 2,750kW and natural gas and LP gas generators from 30kW to 400kW. Selmec products are complemented with experience in integral solutions for engineering, procurement, implementation, operation and maintenance of power generation and management projects.
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- frequency and duration of power outages impacting demand for Generac products;
- availability, cost and quality of raw materials and key components used in producing Generac products;
- the impact on our results of possible fluctuations in interest rates, foreign currency exchange rates, commodities and product mix;
- the possibility that the expected synergies, efficiencies and cost savings of our acquisitions will not be realized, or will not be realized within the expected time period;
- the risk that our acquisitions will not be integrated successfully;
- difficulties Generac may encounter as its business expands globally;
- Generac's dependence on its distribution network;
- Generac's ability to invest in, develop or adapt to changing technologies and manufacturing techniques;
- loss of key management and employees;
- increase in product and other liability claims or recalls; and
- changes in environmental, health and safety laws and regulations.
Should one or more of these risks or uncertainties materialize, Generac's actual results may vary in material respects from those projected in any forward-looking statements. A detailed discussion of these and other factors that may affect future results is contained in Generac's filings with the U.S. Securities and Exchange Commission (“SEC”), particularly in the Risk Factors section of the 2016 Annual Report on Form 10-K and in its periodic reports on Form 10-Q. Stockholders, potential investors and other readers should consider these factors carefully in evaluating the forward-looking statements.
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Chief Financial Officer
Phone: (262) 506-6064
Generac Holdings Inc