Generac to acquire Tank Utility Inc.

Waukesha, Wis.-based Generac Holdings Inc., a global designer and manufacturer of energy technology systems and other power products, has signed a purchase agreement to acquire the shares of Tank Utility Inc., a provider of IoT propane tank monitoring that enables the optimization of propane fuel logistics.

Generac has been an early minority investor in Tank Utility for the past five years. Its propane-powered backup generators, battery storage, and home energy management offerings paired with Tank Utility’s monitoring and analytics can help dealers expand their expertise as total home energy advisers for homeowners and adapt to changing consumer demands for off-grid and backup capabilities, the company states.

“We are thrilled to be joining the Generac team and to have this opportunity to leverage Generac’s extensive footprint to broaden Tank Utility’s presence in the global marketplace,” said Amos Epstein, CEO/co-founder, Tank Utility. “With our deep experience in designing, building, and delivering data-driven IoT products across energy markets, we look forward to driving growth and building upon Generac’s existing connectivity strategies.”

The acquisition is expected to close in October 2021.