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Generac (NYSE:GNRC), a private equity-backed manufacturer of standby generators, plans to float its IPO this week.

Business Overview (from prospectus)

We are a leading designer and manufacturer of a wide range of standby generators for the residential, industrial and commercial markets. We have one of the leading market positions in the standby generator market in the United States and Canada, having grown our revenues organically by a 16% compound annual growth rate since 2000. We design, engineer and manufacture generators with an output of between 800W and 9mW of power for which we also manufacture, source and modify engines, alternators, automatic transfer switches and other necessary components. Our generators are fueled by natural gas, liquid propane, gasoline, diesel and Bi-Fuel™ (combined diesel and natural gas).

Offering: 20.3 million shares at $15 - $17. Net proceeds of approximately $299 million will be used to repay debt.

Lead Underwriters: J.P. Morgan (NYSE:JPM), Goldman Sachs (NYSE:GS), BofA Merrill Lynch (NYSE:BAC)

Financial Highlights:

Net sales increased $32.7 million, or 8.1%, to $434.3 million for the nine months ended September 30, 2009 from $401.6 million for the nine months ended September 30, 2008... Costs of goods sold increased $4.3 million, or 1.7%, to $262.1 million for the nine months ended September 30, 2009 from $257.7 million for the nine months ended September 30, 2008... Gross profit increased $28.3 million, or 19.7%, to $172.2 million for the nine months ended September 30, 2009 from $143.9 million for the nine months ended September 30, 2008, primarily due to the increase in net sales described above... Operating expenses increased $7.2 million, or 7.5%, to $103.0 million for the nine months ended September 30, 2009 from $95.9 million for the nine months ended September 30, 2008.

Competition:

Our competitors include Briggs & Stratton (NYSE:BGG), Caterpillar (NYSE:CAT), Cummins (NYSE:CMI), Honda (NYSE:HMC), Kohler, MTU (Katolight division), and Techtronics International (TTI). In the market for standby industrial and commercial generators, our primary competitors are Caterpillar, Cummins, Kohler and MTU, most of which also focus on the market for diesel generators as they are also diesel engine manufacturers. In the market for residential standby generators, our primary competitors include Briggs & Stratton, Cummins (Onan division) and Kohler, which also have broad operations in other manufacturing businesses. In the portable generator market, our primary competitors include Briggs & Stratton, Honda and Techtronics International (TTI), along with a number of smaller domestic and foreign competitors.

Additional Resources:

Source: PE-Backed Generac Set to Go Public