Generac Closes on the Acquisition of the Majority Share of PR Industrial
March 01 2016 - 4:15PM
Business Wire
Generac Holdings Inc. (NYSE: GNRC) (“Generac”), a leading
designer and manufacturer of power generation equipment and other
engine powered products, announced today the closing of an
agreement to acquire a majority share of PR Industrial S.r.l and
its subsidiaries, owner of the Pramac® brand (collectively Pramac).
As previously disclosed in a press release dated February 15, 2016,
Pramac is a leading manufacturer of stationary and mobile
generators for a variety of commercial and industrial applications
primarily sold under the Pramac® brand, as well as portable
generators used for numerous residential, light construction and
recreational purposes. The company also has a line of material
handling equipment sold under the Lifter® brand. Selling into over
150 countries through a broad distribution network, Pramac employs
over 600 people across its four manufacturing plants and 14
commercial branches worldwide.
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, industrial, oil & gas, and
construction 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 Pramac
Pramac, established in 1966 by the Campinoti family, produces
and sells power generation systems and material handling equipment
primarily under the Pramac® and Lifter® brands. The company, which
is headquartered in Siena, Italy, has a full range of stationary,
mobile and portable power generation equipment up to 3,360 kVA that
are sold through a broad distribution network across the world. For
more information, go to www.Pramac.com.
SOURCE: Generac Holdings Inc.
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version on businesswire.com: http://www.businesswire.com/news/home/20160301006823/en/
Generac Holdings Inc.Michael W. HarrisVice President –
Finance262-544-4811 x2675Michael.Harris@Generac.com
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