Generac Acquires Gen-Tran Corporation
Acquisition of complementary transfer switch products broadens residential product offering.
Generac Holdings Inc. (NYSE: GNRC), a leading designer and manufacturer of generators and other engine powered products, announced today that one of its subsidiaries has acquired substantially all of the assets and certain liabilities of Gen-Tran Corporation, a leading transfer switch and portable generator accessory manufacturer located in Alpharetta, GA. Terms of the transaction were not disclosed.
Gen-Tran is a market leader in the manual transfer switch industry with a diverse product offering and broad customer base. Gen-Tran's product offering fits strategically between Generac's existing portable generator and home standby product offering, providing a broader set of solutions for consumers and allowing the combined companies to capture additional accessory sales.
Steve Goran, Vice President of Business Development for Generac, commented, "Adding Gen-Tran products to our offering will better position our portable products as safe, reliable backup solutions while complementing our fully automatic home standby solutions. By merchandising our products together across broadened distribution channels, we believe we can capture incremental sales opportunities through a more informed consumer, further building on our position as the leader in residential backup power."
Gen-Tran President, Jack Mandula, will continue to manage Gen-Tran's operations in Alpharetta, GA. Gen-Tran's current management team and staff have joined Generac upon closing and will help lead the integration of the company's products and operations.
Mr. Mandula concluded, "As we transition under Generac's ownership, we will continue to provide high-quality products and support to our customers. We are excited to be a part of a well-resourced company whose broad product offering and distribution channels offer tremendous opportunities for our products and customers."
Learn more at www.generac.com.
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