Generator producer Generac Holdings (NYSE: GNRC) signed a purchase agreement to acquire the equity of Italy-based Tower Light Srl and its subsidiaries from European private equity fund Ambienta I. Financial terms of the deal were not disclosed.
Tower Light is a developer and supplier of mobile light towers throughout Europe, the Middle East and Africa. Generac said in a release that Tower Light’s acquisition will help expand its business by adding the light tower generators to its product offering.
Once the deal is closed in the third quarter of 2013, Tower Light’s management team will stay in place and the company will join Generac’s brands.
Read more on-site power news