CCMP Capital Advisors, the firm spun out of JP Morgan Partners last month, is executing its first solo deal with the purchase of a US generator manufacturer.

CCMP Capital is buying Generac Power Systems from the company's founder, Robert Kern, and other shareholders. An industry observer said the value of the deal was more than $1bn (€786m). Based in Wisconsin, Generac manufactures and markets a complete line of automatic standby generators for residential, light commercial and industrial usage.