Generac Holdings of Waukesha, Wisconsin and PR Industrial S.r.l of Hove, United Kingdom have signed an agreement allowing Generac Holdings to acquire a majority share of the company and its subsidiaries which includes the Italian based firm, Pramac. The transaction is expected to close before the end of March 2016.
“Acquiring a majority share of Pramac will be a great strategic fit for Generac as we build out our power generation business around the globe,” said Aaron Jagdfeld, President and Chief Executive Officer. “This acquisition will dramatically increase our global presence by adding product, manufacturing and distribution capabilities that serve local markets around the world."
Pramac, based in Siena, Italy, manufactures commercial and industrial stationary and mobile generators, as well as portable power equipment. It also has a line of material handling equipment sold under the Lifter brand. Pramac has four manufacturing plants.
Source: Generac Holdings