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  "documentTitle": "Generac Holdings, Inc. (GNRC)",
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      "text": "Spruce Point warns that despite the CEO's bullish tone around Off Grid, we believe the deal has been a failure to date. The deal comprised a $29 million contingent cash payment upon achievement of milestones ending March 31, 2022 which wasn't paid.(1)",
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      "text": "Spruce Point warns that despite the CEO's bullish tone around Off Grid, we believe the deal has been a failure to date.",
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      "text": "No contingent acquisition consideration payment was record in Q1 2022. This implies that Off Grid fell short of its targets. Furthermore, Generac did not clearly disclose the add-back to EBITDA for the revaluation of the consideration to zero. It included a line-back item called “Non-cash write-down and other adjustments” of $7.8 million(2)",
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      "text": "And now with Off Grid Energy, we have that jumping-off platform to leverage up and scale, invest our knowledge and capability on the packs and cells and drive that into the product. And we have now a formal product offering to roll into the market and really expand.",
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      "text": "Off Grid has seen very strong market interest for its mobile energy storage systems in new regions and with legacy Generac customers, and we are very excited to bring this innovative battery storage solution to the North American equipment rental market in 2022.",
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      "text": "Off Grid continues to see robust demand for its products in its core European markets and working -- and we're working to bring you solutions for the rest of our geographic footprint given our strong global relationships with rental equipment customers.",
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      "text": "The combination of energy storage systems paired with the advanced technology of our generators being offered through our global distribution network will accelerate our growth into the fast-growing distributed energy and microgrid markets.",
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      "text": "So we're seeing storage systems like the Off Grid systems become a lot more popular. That asset is in the short period of time we've owned it, just the order book there has been really fun to kind of watch that grow as those products get introduced.",
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      "text": "The combination of energy storage systems paired with the advanced technology of our generators being offered through our global distribution network will accelerate our growth into the fast-growing distributed energy and microgrid markets. — Deal Press Release, Sept 1, 2021",
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      "text": "1) 10-K disclosing contingent consideration and 2) 10-Q showing no payment and adjustment",
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      "text": "Hyper Promotion of Off Grid Energy By Generac",
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