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Home > BizTimes Daily > Archives > September 15, 2006
Private equity firm to acquire Generac
Published September 15, 2006 - BizTimes Daily
After 47 years of private ownership by its founder and chairman, Robert Kern, Generac Power Systems Inc. of Waukesha has signed an agreement to be acquired by CCMP Capital Advisors LLC, a private equity firm.
CCMP Capital, which is based in New York, was formed by the buyout/growth equity investment team at JPMorgan Partners.
Generac, which is the world's largest manufacturer of portable power generators, has plants in Waukesha, Eagle and Whitewater, Wis., and Maquoketa, Iowa.
With the acquisition, Generac's current management team of William Treffert, Dawn Tabat and Aaron Jagdfeld will continue in their roles. The Generac name also will be retained.
"CCMP Capital will be a welcome partner for Generac's future success that will take the company to even higher levels," said Treffert, who is the chief executive officer of Generac.
"This transition has been long-anticipated, and I am confident that we have selected the best partner for Generac. The success we have enjoyed over the past decades has been a result of the excellent work of our employees and the strong relationships that we have built with our business partners. I know that those aspects are important to CCMP Capital and that Generac will continue to build upon its successes in the future," said Kern, who received SBT's Lifetime Achievement Award at the Wisconsin Business & Technology Expo earlier this year.
CCMP Capital has invested more than $10 billion in over 375 buyout and growth equity transactions since 1984.
