Generator manufacturer Generac Holdings Inc. announced the finalization of a purchase deal with Ambienta I for the acquisition of Tower Light Srl and its wholly-owned subsidiaries.
Italy-based Tower Light is among the leading suppliers and developers of mobile light towers throughout the Middle East, Europe and Africa. Since its foundation in 1996, Tower Light has grown and built a top-notch reputation in the equipment rental markets by continuously improving product offering and strengthening distribution network in more than 50 countries.
Tower Light net sales reached an estimated EUR 37 million by the end of December 31 last year.
"Tower Light is a great strategic fit for Generac's business, providing an expanded product offering of light tower generators to support additional geographic markets beyond those we serve today," stated Generac Chief Executive Officer and President Aaron Jagdfeld. "Acquiring Tower Light positions us as a global leader in light towers, allowing us to participate in the growing rental market for these products outside the U.S."