Global Power Equipment Group (GLPW) Completes Acquisition of Koontz-Wagner Custom Controls for $31.5 Million

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Global Power Equipment Group Inc. (Nasdaq: GLPW) has closed the acquisition of Koontz-Wagner Custom Controls Holdings LLC ("Koontz-Wagner") pursuant to the definitive agreement announced on July 16, 2012. The $31.5 million acquisition was funded from cash on hand. Koontz-Wagner is a leading manufacturer and integrator of engineered packaged control house solutions for the energy, oil & gas, and electrical industries.

Koontz-Wagner's revenue in 2011 was $34 million. Guidance provided by Global Power on May 1, 2012, applies only to the Company's organic business and is not being updated at this time.

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