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Generac (GNRC) Buys Deep Sea Electronics, Eyes Controls Market

·3 min read

Generac Holdings Inc. GNRC has acquired Deep Sea Electronics Limited for an undisclosed amount.

Headquartered in Hunmanby, the U.K., Deep Sea Electronics is a leading global manufacturer of generator controllers, automatic transfer switch controllers, battery chargers, and vehicle and off-highway controllers. It sells products in more than 150 countries through a comprehensive distributor network.

Closed on Jun 1, the acquisition strengthens Generac’s engineering and control capabilities which will support the innovation of its products to meet the needs of customers. Deep Sea Electronics’ prowess will boost Generac’s focus on natural gas power generation and is expected to help it foray into microgrid applications.

The buyout will help Generac advance its product roadmap while it continues to participate in the ongoing evolution of the world’s electrical grid. It will expand Generac’s internal capacity in the field of Controls and Automation, and accelerate its growth into the distributed energy resource and microgrid market.

In January 2021, Generac established a new business organization as part of its ‘Powering Our Future’ strategy. Named Energy Technology (“ET”), the organization comprises all Generac’s businesses, which mainly focus on products or services related to storage and energy management products. The ET organization serves as the operating platform for potential acquisitions in the energy technology industry.

Generac’s shares have soared 186.8% in the past year compared with 93.2% growth of the industry. This Waukesha, WI-based company delivered a trailing four-quarter earnings surprise of 26.1%, on average.

Zacks Investment Research
Zacks Investment Research

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The stock currently carries a Zacks Rank #2 (Buy).

Some other top-ranked stocks in the broader industry are Cambium Networks Corporation CMBM, Altice USA, Inc. ATUS and Vicor Corporation VICR, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Cambium delivered a trailing four-quarter earnings surprise of 46.5%, on average.

Altice delivered a trailing four-quarter earnings surprise of 61.5%, on average.

Vicor delivered a trailing four-quarter earnings surprise of 80.6%, on average.

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