IES became a leading independent manufacturer of attachment tools, operator cabs and other complex fabrications for off-highway applications. For information on our data processing practices, please read our privacy policy here. Your email address will not be published. To succeed, you need the right solution providers, the right technology,[...]. Contact: Rick Carpenter, Briggs & Stratton, carpenter.rick@basco.com, ____________________________________________________________________, Briggs & Stratton Announces Completion of Sale to KPS Capital Partners, The Acquired Business Exits Chapter 11 Bankruptcy Proceeding, Steve Andrews Named President and Chief Executive Officer. Briggs & Stratton will now operate as an independent company with the long-term support of KPS, a leading global private equity investor with a demonstrated track record of successfully transforming businesses and creating profitable, growing companies. if (browName!='Netscape') www.basco.comwww.briggsandstratton.com, Sep 22, 2020 Certain information on or linked to from this site is furnished by or is derived from materials furnished by outside sources. You also have the option to opt-out of these cookies. This website uses cookies to improve your experience. Steve is an outstanding leader with a demonstrated track record of transforming and growing companies. var wd = window.innerWidth || document.documentElement.clientWidth || document.body.clientWidth; New York, NY 10017 These cookies will be stored in your browser only with your consent. “KPS is delighted that Steve Andrews will serve as President and CEO of Briggs & Stratton. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. Briggs & Stratton launches as a well-capitalized company, unencumbered by over $900 million of its predecessor’s legacy obligations, and access to the financial resources required to execute its ambitious business improvement and growth plans. Auparavant coté à la Bourse de New York, le motoriste américain entre dans le giron du fonds KPS Capital Partners. KPS will also provide the capital for Briggs & Stratton to pursue strategic acquisitions. { Briggs & Stratton will now operate as an independent company with the long-term support of KPS, a leading global private equity investor with a demonstrated track record of successfully transforming businesses and creating profitable, growing companies. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. document.write(''); document.write(''); KPS acquired the assets free and clear of substantially all liens, claims, encumbrances and interests through a sale under Section 363 of the United States Bankruptcy Code. Vous devez vous abonner pour lire cet article en entier. Michael Psaros, Co-Founder and Co-Managing Partner of KPS, said “This is the beginning of a new era for Briggs & Stratton, a legendary brand in American manufacturing and the leading company in its industry. No representation, warranty or undertaking, express or implied, is given as to the accuracy or completeness of the information or opinions contained in such materials. No representation, warranty or undertaking, express or implied, is given as to the accuracy or completeness of the information or opinions contained in such materials. In July, the company’s then-CEO Todd Teske cited the financial effects of the coronavirus pandemic as leading to the decision to file for bankruptcy. Steve Andrews Named President and Chief Executive Officer. Briggs & Stratton products are designed, manufactured, marketed and serviced in over 100 countries on six continents. “We are grateful to all of the Company’s stakeholders for their assistance and cooperation throughout the bankruptcy process. Kirkland & Ellis LLP is acting as legal counsel to KPS with respect to the transaction. KPS Capital Partners agrees to acquire substantially all of the assets of Briggs & Stratton Corporation, Resilience Capital Partners acquires TSS Technologies, Briggs & Stratton builds on decades-long commitment to Baja Sae, Flux Power’s FY 2021 Q1 revenue increased by 135%, American PERMALIGHT®, Inc. welcomes David Thornburg, MHEDA’s customer appreciation week starts now through November 19. Under KPS’ ownership and Mr. Andrews’ leadership, IES, through a series of acquisitions and other growth initiatives, transformed two non-core divisions of a large corporation into a thriving, highly profitable company. Kirkland & Ellis LLP is acting as legal counsel to KPS with respect to the transaction. The Company has a new owner, a new CEO, a new Board of Directors and a renewed focus. Required fields are marked *, Briggs & Stratton sold to KPS, names new CEO in wake of bankruptcy filing. I understand that I can opt-out of receiving these communications at any time. Any performance information included in any document on or linked to from this site is presented for illustrative purposes only and is not indicative of the future returns of any of the funds managed by KPS and there can be no assurance that such funds will achieve comparable results, be able to avoid losses or be able to implement their investment strategies. var browName = navigator.appName; var SiteID = 1; Any performance information included in any document on or linked to from this site is presented for illustrative purposes only and is not indicative of the future returns of any of the funds managed by KPS and there can be no assurance that such funds will achieve comparable results, be able to avoid losses or be able to implement their investment strategies. { Milwaukee, WI (September 22, 2020) – Briggs & Stratton, a recognized global leader in providing power to get work done, announced today that KPS Capital Partners, LP (“KPS”), through a newly formed affiliate, has acquired substantially all of the assets of Briggs & Stratton Corporation and certain of its wholly-owned …

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