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 LimitedFounded 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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV