Creel, García-Cuéllar, Aiza y Enríquez and Jones Day advised on the deal
Generac Holdings Inc. (NYSE:GNRC), a leading global designer and manufacturer of generators and other engine powered products, signed a purchase agreement to acquire the shares of Selmec Equipos Industriales, S.A. de C.V. and its wholly-owned subsidiaries from Enesa Energia, S.A. de C.V. and Enesa, S.A. de C.V. The agreement includes the power generator product and after-sale support services of the business.
Selmec, founded in 1941 and headquartered in Mexico City, is a designer and manufacturer of industrial generators from 10 kW to 2,750 kW. With approximately 300 employees and 100,000 sq.ft. of production capacity, Selmec offers a market leading service platform and specialized engineering capabilities, together with robust integration, project management and remote monitoring services.
The transaction is expected to close in three to six months following pending receipt of required regulatory approval.
Since 1959, Generac has been a leading designer and manufacturer of a wide range of power generation equipment and other engine powered products. As a leader in power equipment serving residential, light commercial, and industrial markets, Generac’s power products are available globally through a broad network of independent dealers, distributors, retailers, wholesalers and equipment rental companies, as well as sold direct to certain end user customers. The company, led by Aaron P. Jagdfeld, York A. Ragen and Russell S. Minick, is based in 2016 recorded $1.444 Million Revenues.
Creel, García-Cuéllar, Aiza y Enríquez advised Generac Holdings Inc. with Humberto Botti (Picture) Gerardo Zimbrón Santamaría, Daniela Roca Subero and Daniel Badía.
Jones Day advised Semec Equipos Industriales and Grupo Enesa with Mauricio Castilla, Jesús Gabriel Altamirano, Salvador Gallo and Luis R. Salinas.
Involved fees earner: Humberto Botti O. – Creel, García-Cuéllar, Aiza y Enriquez SC; Gerardo Zimbrón – Creel, García-Cuéllar, Aiza y Enriquez SC; Daniela Roca Subero – Creel, García-Cuéllar, Aiza y Enriquez SC; Mauricio Castilla – Jones Day; Jesús Gabriel Altamirano – Jones Day; Salvador Gallo – Jones Day; Luis Salinas – Jones Day;