Generac Closes on the Acquisition of Ottomotores Businesses
December 10 2012 - 6:00AM
Business Wire
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.
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