Generac acquires Ottomotores

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"Generac Holdings Inc. A genset manufacturer leader with back up or prime products, announced today the definitive singing in of a purchase agreement to buy the holdings of a subsidiary company form tt electronics plc.All the stocks from Ottomotores UK, Ltd and it branches including the operations in Mexico and Brasil (also named Ottomotores) were acquired by Generac for a total of 46.5 million dollars in cash, number that will be subjected to revision and actives final adjustment.


“Buying Ottomtores fits perfectly with Generac business; it offers us an immediate growing scale in the international market” said Aaron Jagdfeld, president and CEO from Generac. “this operation is directly lined up with our strategic plan called “Powering ahead” and positions Generac as a relevant player in the commercial and industrial back up genset market, through offering costume design products for each international market."

NYQ GNRC 36.35 2017-08-17 08:06:34pm
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