Tower Light Acquisition Expands Generac's Lighting Business
As part of an expansion of its business outside of North America, Generac Holdings has acquired Italian-based Tower Light Srl, a leading developer and supplier of mobile light towers throughout Italy, Europe, South America, the Middle East, and Africa. Founded in 1996 and headquartered outside of Milan, Tower Light has built a strong and growing distribution network in over 50 countries. The acquisition complements Generac’s 2011 purchase of Magnum Products, a leading manufacturer of light towers in North America.
“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,” says Aaron Jagdfeld, President and Chief Executive Officer of Generac. “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.”
“The addition of Tower Light products will allow us to provide our industrial and rental customers with a more comprehensive, globally compliant product lineup,” says Kyle Raabe, Generac’s vice president of sales. “This broader assortment of offerings will complement what Magnum provides and allow dealers to better serve all segments of the light tower market, such as construction, road work, special events and emergency response. We are confident that this is a good move for our dealers, customers, Tower Light and Generac.”
Tower Light has experienced growth and built a leading market position in the equipment rental market by leveraging their broad product offering and strong global distribution network.
Since the close of the transaction, Tower Light’s management team continues to lead the company and the Tower Light name has joined Generac’s other brands, including Magnum and Ottomotores.