Zurich, Switzerland - November 1, 2013 – ABB, the leading power and automation company, has completed the sale of Baldor’s generator-set business to Generac Holdings Inc. (NYSE:GNRC, “Generac”) as previously announced. Generac is a leading producer of generators and other engine-powered products, headquartered in Waukesha, in the US state of Wisconsin. The transaction closed on November 1, 2013, and the terms of the transaction were not disclosed.
ABB divested the generator-set business because of limited synergies with ABB’s core portfolio. The business was acquired as part of ABB’s acquisition of Baldor Electric in 2011, and accounts for about three percent of Baldor’s total sales.
ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 150,000 people.
Generac (www.generac.com) is a leading designer and manufacturer of a wide range of generators and other engine-powered products. As a leader in power equipment serving residential, light commercial, industrial and construction markets, Generac’s power products are available internationally through a broad network of independent dealers, retailers, wholesalers and equipment rental companies.