Generac Holdings Inc. is a publicly-traded American manufacturer of backup power generation products for residential, commercial and industrial customers. The company was founded in 1959 and is headquartered in Waukesha, Wisconsin. Generac's product line includes generators powered by natural gas, propane, diesel, and gasoline fuel types, as well as transfer switches, light towers, and power washers. Generac's generators are sold through a network of dealers, retailers, wholesalers, and contractors throughout the United States, Canada, and Mexico.
Generac went public in February 2010, with an initial public offering (IPO) of 18.8 million shares at $13 per share. Since then, the company has grown rapidly, thanks in part to the increasing demand for backup power solutions in the wake of natural disasters and power outages. In 2020, Generac reported revenues of $2.85 billion, a 15.5% increase over the previous year. The company's market capitalization is currently around $31 billion.
Generac has continued to innovate and expand its product offerings in recent years, with a focus on clean energy and renewable power solutions. In 2019, the company launched PWRcell, a home energy storage system that allows customers to store excess solar energy generated by solar panels for use during power outages or when energy rates are high. Generac has also expanded into the commercial and industrial markets, offering generators and power solutions for data centers, hospitals, and other large-scale applications.
Generac's growth has been driven in part by a strong financial performance, but also by its reputation for high-quality products and exceptional customer service. In 2021, the company was named one of Fortune's 100 Fastest-Growing Companies, and Generac's CEO, Aaron Jagdfeld, has been recognized for his leadership in the industry. The company has also received numerous awards for its commitment to sustainability, including the 2020 Smart Energy Decisions Innovation Award for its PWRcell system.