Tower Light, a Milan, Italy-based developer and supplier of mobile light towers throughout Europe, the Middle East and Africa, has been acquired by Generac Holdings (NYSE: GNRC).
Ambienta I, the private equity fund managed by Ambienta SGR was the seller.
The amount of the transaction, which also includes Tower Light’s wholly-owned subsidiaries, was not disclosed.
Generac Holdings is a designer and manufacturer of generators and other engine powered products.
Founded in 1996 by Andrea Fontanella, Managing Director, Tower Light has built a leading market position in the equipment rental markets by leveraging a broad product offering and a global distribution network in over 50 countries. Its net sales for year ended December 31, 2012 were approximately €37m. It has approximately 100 employees.
Following the close of the transaction, which is expected to close in the third quarter of 2013, the company’s management team will continue to lead the company and the Tower Light brand name will join Generac’s brands, including Magnum and Ottomotores.
FinSMEs
29/07/2013