Generac goes public, teams with Fiat
Generac has filed for an IPO, partnered with Fiat Powertrain Technologies, and enhanced their genset product lines.
Jack Smith, Managing Editor, Plant Engineering and Pure Power
Generac has filed for an initial public offering of common stock to be traded on theNew York Stock Exchange. Generac Holdings Inc. recently announced it has filed a registration statementwith the U.S. Securities and Exchange Commission relating to a proposed initialpublic offering of its common stock. Trading will not occur until theregistration statement becomes effective. Then, the offering will be made onlyby means of a prospectus. When available, copies of the preliminary prospectusmay be obtained from J.P. Morgan Securities or Goldman, Sachs & Co., whowill jointly manage the offering.
Generac and Fiat Powertrain Technologies (FPT) recentlyannounced a strategic partnership .Beginning in 2010, FPT will supply Generac with a wide range of industrialdiesel engines for use in gensets with outputs ranging from 60 to 350 kW. Designed to increase productivity and greatly reduce operating costs, the FPTengines require 37% less oil, and have 600-hr. oil-and-filter change intervals.According to Generac, turbocharging and enhanced injection systems provide thehigh power density and performance found in bigger engines, but with lower fuelconsumption and smaller size.
Meanwhile, Generac is set to release a suite of new products in 2010. Based on an extensive market research project that included 11 focus groups in five cities, dealers, field service technicians, installing electrical contractors, and specifying electrical engineers, the company is launching a branding effort that highlights Generac Industrial Power. "We wanted to find out what engineers really want," said Clement Feng, executive vice president and chief marketing officer, Generac Power Systems Inc.
"Engineers want reliability, lead time availability, product support, and quality manufacturing. Field technicians identified usability and ergonomics as key issues."
Generac's recent product enhancements include improvements to its modular power system (MPS) and the release of its Power Design Pro software suite. MPS is an integrated approach to generator paralleling, and is cost competitive with large single gensets and traditional paralleling systems.
In addition to eliminating the need to buy multiple transfer switches, advantages of MPS include reliability, redundancy, flexibility, and scalability, according to Noreen Brooker, senior channel manager at Generac. Transfer switching is done in the controller instead of an ATS unit. The switchgear is built into the controls.
Power Design Pro software suite for genset sizing and designis live on the Generac Web site ,and will replace SpecWriter Online. "The software supports real world designissues," said Feng. "It recommends generator size without oversizing, andperforms transient and harmonic analysis. A specifying engineer can enter allthe building loads and transient sensitivity."
The software also accommodates natural load sequencing, cyclic loads, load factors, and load characteristics such as motor load types, motor load levels, and charge rates. It also includes spec sheets, installation drawings, emission information, a spec text library with design notes, and the ability to link directly to a dealer for quotes and additional support.
Other enhancements to Generac products include bi-fuel capability (natural gas and diesel) that extends run time, improved sound attenuation, and a Rhino coat exterior that protects gensets from corrosion.
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In a year when manufacturing continued to lead the economic rebound, it makes sense that plant manager bonuses rebounded. Plant Engineering’s annual Salary Survey shows both wages and bonuses rose in 2012 after a retreat the year before.
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