Generac to acquire Baldor Generators
Generac has announced a purchase agreement for the Baldor Generators subsidiary.
Generac Holdings Inc. announced the signing of a purchase agreement with Baldor Electric Co. a wholly-owned subsidiary of ABB Group, to acquire all of the assets of Baldor's generator products division, Baldor Generators.
Following the close of the transaction, the employees of Baldor Generators will become employees of Generac and the Oshkosh, Wis., facility will become part of Generac's manufacturing footprint. Generac will continue to support Baldor Generators' existing customers and distribution network going forward. The acquisition is expected to close in the fourth quarter of 2013, pending closing conditions. The terms of the transaction were not announced.