Generac Closes on the Acquisition of the Majority Share of PR Industrial
WAUKESHA, Wis.–(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.
Contacts
Generac Holdings Inc.
Michael W. Harris
Vice President –
Finance
262-544-4811 x2675
Michael.Harris@Generac.com
