Featured Video
Check out these informative videos from Rural Lifestyle Dealer.
Register today!
Register at the Rural Lifestyle Dealer Web site and get members- only access to the latest and greatest information in the Rural Lifestyle marketplace. Don't miss out; register today!
Generac Corp Purchases Magnum Products LLC
Source: Milwaukee Journal Sentinel
Generac Holdings Inc. said Monday that one of its subsidiaries has purchased the assets and certain liabilities of Magnum Products LLC, a Berlin, Wis., manufacturer of light towers and mobile generators.
The price was $80 million cash plus what Generac described as a modest payment based on future performance.
Generac, based in the Town of Genesee, makes residential, commercial and industrial generators. The company said it expects the acquisition to add $25 million to $30 million in revenue in the fourth quarter, and three cents to four cents in earnings per share.
Magnum employs 330 people. For the year ended June 30, the company posted sales of about $108 million, and adjusted earnings of $14 million before interest, taxes, depreciation and amortization. The company sells to such markets as road and commercial construction, energy, mining and the military.
Founder and chairman Tom Joseph, Magnum's principal owner, will retire with the acquisition.
