Generac Holdings Inc. (GNRC) is a leading global designer and manufacturer of a wide array of power generation and power products equipment. First established in 1959, the company has built a reputable name and a strong presence in the market with its reliable, best-in-class power solutions. The Wisconsin-based public company is listed on the New York Stock Exchange and has its headquarters in Waukesha.
Generac's extensive offering encompasses backup power generators for residential, commercial, and industrial applications, as well as engine-powered tools such as pressure washers. They provide energy storage systems and solutions with different sizes and capacities to meet varying demands. Moreover, they are renowned for their energy technology solutions that incorporate sustainable sources like solar and smart home automation.
Generac operates through three primary segments: Residential Products, Commercial & Industrial Products, and Other. These segments were designed to cater to the diverse needs of their customers, which range from individual consumers to large industries and institutions.
In the early days, Generac simply made generators. However, the company has continuously evolved, diversifying its product range to adapt to emerging market trends and needs. It has made significant strides particularly in the realm of clean energy. Generac has increasingly focused on power storage and energy management, introducing products such as the PWRcell – an integrated solar + battery storage system.
The company takes pride in its innovation-driven culture – it invests heavily in research and development, continually seeking to improve existing products and introduce pioneering solutions to the market. It's also a large employer, with more than 6,000 full-time employees across the globe.
Generac is led by a team of experienced professionals, with Aaron Jagdfeld, who joined the company in 1994, serving as the company’s President and Chief Executive Officer. Under his leadership, Generac has grown dramatically, both in terms of product offerings and market reach.
Over the years, Generac has shown a strong growth trajectory, with a steadily increasing annual revenue and an expanding global footprint. They have also acquired a number of companies to boost their capacity and expand their product line, including Ottomotores, a leading manufacturer of industrial generators in Mexico, and Pika Energy, a manufacturer of innovative battery storage technologies.
In summary, Generac Holdings Inc. continues to cement its place as a leader in the power generation and energy solutions sector, driven by a relentless commitment to innovation, quality, and customer satisfaction. Through synergistic acquisitions and aggressive R&D, the company maintains its edge in a competitive industry, and continues to provide dependable power solutions across the globe.