Waukesha-based Generac Power Systems announced it has acquired Magnum Products, a leading manufacturer of light towers and mobile generators.
The acquisition combines Magnum’s 23 years of experience with Generac’s 52 years of power expertise to create a larger company with broadened product offerings and expanded distribution channels.
Magnum will function as a stand-alone business, continuing operations out of its facilities in Berlin, Wis. Generac will maintain the Magnum brand and the companies will together employ more than 1,800 people throughout Wisconsin.
Generac, a subsidiary of Generac Holdings Inc., is a leading producer of commercial and industrial portable and standby generators. Magnum is the No. 1 light tower manufacturer in North America, with a growing market share in the power rental and mobile generator market.
“Magnum is an outstanding strategic fit for Generac’s business,” said Aaron Jagdfeld, president and chief executive officer of Generac. “This acquisition brings together two of Wisconsin’s leading manufacturers to better serve customers. We are very excited about what we will achieve through our combined efforts in engineering, sales, and service.”
Magnum was owned by its retiring founder and chairman, Tom Joseph. “Both companies have earned outstanding reputations in their respective market places and the combined company will be very powerful. Magnum and Generac have a bright future, and Magnum’s outstanding leadership team will execute a seamless transition under Generac’s ownership,” Joseph said.
Magnum’s management team will continue to lead the company. Generac and Magnum will share best practices including global sourcing and vertical manufacturing.
