Tank Utility Acquired by Generac

Serra is very excited to announce the acquisition of Serra Capital III company, Tank Utility, by Generac.

Generac Holdings Inc., a global designer and manufacturer of energy technology solutions and other power products, announced Sept. 20 the signing of 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. The deal further expands Generac’s connectivity functionality and services with sophisticated remote monitoring capabilities for propane.

“As an early minority investor in the company for the last five years, Generac has been impressed by the growth of the Tank Utility business,” said Kyle Raabe, executive vice president and president of Generac’s Consumer Power products. “Their solution has been able to help propane suppliers increase efficiency and reduce their emissions, and we believe that the Tank Utility monitoring platform can provide even further value to our dealers and peace of mind to our home standby generator owners.”

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