This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Generac To Acquire Generator Business From Baldor Electric Company, A Subsidiary Of ABB Group

Generac Holdings Inc. (NYSE: GNRC) (the “Company” or “Generac”), a leading designer and manufacturer of generators and other engine powered products, announced today the signing of a purchase agreement with Baldor Electric Company (“Baldor”), a wholly-owned subsidiary of ABB Group, to acquire substantially all of the assets of Baldor’s generator products division (“Baldor Generators”).

Located in Oshkosh, Wisconsin, Baldor Generators offers a complete line of portable, mobile, standby and prime power generators ranging from 3kW to 2.5MW throughout North America. For almost 50 years, Baldor Generators and its predecessors have served the power generation market with a comprehensive, reliable product offering and flexible operating environment.

“Acquiring Baldor Generators is a great strategic fit for Generac’s business, providing us immediate access to a larger industrial product line to better support the North American and global power generation markets,” said Aaron Jagdfeld, President and Chief Executive Officer of Generac. “By offering additional power solutions up to 2.5MW, this acquisition improves our competitive position in the marketplace by increasing the addressable market that our distribution partners can serve.”

Jagdfeld continued, “Investing in the Baldor Generator business accelerates our organic efforts to increase our share of the commercial and industrial power generation market while also adding significant production and test capacity for future growth. With our enhanced scale and focus, we believe we can execute on the meaningful revenue and cost synergies that we have identified to date.”

Following the close of the transaction, the employees of Baldor Generators will become employees of Generac and the Oshkosh, WI facility will become part of Generac’s manufacturing footprint. Although the Baldor brand name is not included past a transitionary period, Generac will continue to support Baldor Generator’s existing customers and distribution network going forward. The acquisition is expected to close in the fourth quarter of 2013, pending standard closing conditions. The terms of the transaction were not announced.

Stock quotes in this article: GNRC 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,449.09 +24.24 0.15%
S&P 500 1,866.84 +4.53 0.24%
NASDAQ 4,103.7750 +17.55 0.43%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs