Generac Power Systems has acquired Magnum Products, a leading manufacturer of light towers and mobile generators, Generac announced this week. The acquisition combines Magnum’s 23 years of experience with Generac’s 52 years of power expertise to create a stronger, larger company with broadened product offerings and expanded distribution channels.
Magnum will function as a standalone 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, is a leading producer of commercial and industrial portable and standby generators. Magnum is a leading light tower manufacturer 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 CEO 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 founder and chairman Tom Joseph, who is retiring. Magnum’s management team will continue to lead the company. Generac and Magnum will share best practices including global sourcing and vertical manufacturing.
Generac Power Systems is based in Waukesha, Wis.