Generac Holdings Inc. (NYSE: GNRC), a leading designer and manufacturer of generators and other engine powered products, announced today the closing of the purchase agreement to acquire the equity of Tower Light Srl and its wholly-owned subsidiaries from European private equity fund Ambienta I, advised by Ambienta SGR, and a group of minority-share investors. As previously disclosed in a press release dated July 25, 2013, Tower Light is a leading developer and supplier of mobile light towers throughout Europe, the Middle East and Africa. With approximately 100 employees, Tower Light’s net sales for year ended December 31, 2012 were approximately €37 million.
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 internationally through a broad network of independent dealers, retailers, wholesalers and equipment rental companies.
About Tower Light Srl
Tower Light Srl, founded in 1996 and based outside Milan, Italy, is the European leader in the production of lighting towers for construction and other applications. Through continuous product development and a broad distribution network, Tower Light Srl has become a leading supplier to construction and equipment rental companies, providing mobile power equipment that meets the specific needs of geographic markets across the world.
Source: Generac Holdings Inc.