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.