Briggs & Stratton is the world’s largest producer of gasoline engines for outdoor power equipment, and is a leading designer, manufacturer and marketer of commercial lithium-ion batteries, power generation, pressure washer, lawn and garden, turf care and job site products through its Briggs & Stratton®, Simplicity®, Snapper®, Ferris®, Vanguard®, Allmand®, Billy Goat®, Murray®, Branco®, and Victa® brands. New York, NY 10017 “KPS is delighted that Steve Andrews will serve as President and CEO of Briggs & Stratton. USW: KPS Purchase of Briggs & Stratton Will Rescue Hundreds of Jobs, Jul 20, 2020 Automation is helping companies in every industry become stronger global competitors. Rémy Serai Publié le 09/10/2020 à 10:00 1 minute de lecture (©Briggs & Stratton) 0 0. 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. No reliance may be placed for any purpose on the information and opinions contained in such materials or their accuracy or completeness and nothing in such materials may be relied upon in making any investment decision. KPS Capital Partners, LP ("KPS") announced on July 20, 2020 that, through a newly formed…, Resilience Capital Partners, a private equity firm that invests in middle-market companies, announced it has…, Briggs & Stratton Commercial Power continues to strengthen its longstanding relationship with SAE International and the…. 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. { New York, NY 10017 For information on our data processing practices, please read our privacy policy here. var wd = window.innerWidth || document.documentElement.clientWidth || document.body.clientWidth; Briggs & Stratton Announces Completion of Sale to KPS Capital Partners, Aug 20, 2020 KPS, with approximately $11.5 billion of assets under management, works to advance the strategic position, competitiveness and profitability of its investments to create world-class, industry-leading companies. 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. KPS will also provide the capital for Briggs & Stratton to pursue strategic acquisitions. 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. The information set forth in the materials on this site is as of June 30, 2020 and does not purport to be a complete summary of KPS or its investments. KPS Capital Partners has agreed to acquire the assets of small engine manufacturer Briggs & Stratton, including the equity of foreign subsidiaries, for approximately $550 million. KPS does not assume responsibility for independent verification of such information and has relied on such information being complete and accurate in all material respects. … 485 Lexington Avenue, 31st Floor Your email address will not be published. Vous devez vous abonner pour lire cet article en entier. © Copyright 2020, KPS Capital Partners, LP. © Copyright 2020, KPS Capital Partners, LP. KPS creates value for its investors by working constructively with talented management teams to make businesses better, and generates investment returns by structurally improving the strategic position, competitiveness and profitability of its portfolio companies, rather than primarily relying on financial leverage. These cookies will be stored in your browser only with your consent. Mr. Andrews said, “I am honored to lead Briggs & Stratton. I understand that I can opt-out of receiving these communications at any time. Briggs & Stratton announced that KPS Capital Partners, LP (“KPS”), through a newly formed affiliate, has acquired substantially all of the assets of Briggs & Stratton Corporation … Sep 22, 2020 Briggs & Stratton Announces Completion of Sale to KPS Capital Partners. Briggs & Stratton, headquartered in Milwaukee, Wisconsin, provides power to get work done and make people’s lives better. Free of any legacy liabilities, and with a strong balance sheet and the Company’s world-class workforce, we have an exceptional opportunity to build upon the Company’s leading market position. Agriest veille sur l'ambiance dans l'étable, Exel Industries se rattrape au dernier trimestre, GEA se sépare de Japy et de Royal De Boer, Reprise plus vive que prévue chez CNH Industrial, Exel regroupe ses fabrications américaines, PM-Pro et Team 3 Services ne font plus qu’un. With the completion of the sale to KPS, the Acquired Business has successfully exited from its Chapter 11 Bankruptcy proceeding. 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. KPS and Mr. Andrews partnered in 2011 to form International Equipment Solutions, LLC (“IES”). Receive KPS Press Releases and Announcements, Type the characters in the security code below*. { Wells Fargo is continuing to provide floorplan financing to support Briggs & Stratton’s customers and a syndicate of banks including Wells Fargo, Bank of America, BMO Harris Bank, and PNC Business Credit provided exit financing for the Company. var browName = navigator.appName; Consent is not a condition of any purchase. Briggs & Stratton brands include Allmand light towers and generators, Ferris mowers and Vanguard engines. “Briggs & Stratton launches with a portfolio of industry-leading products sold under iconic brand names, a rock solid capital structure and access to KPS’ financial resources and expertise.” He also noted KPS would fund Briggs & Stratton’s ability to pursue strategic acquisitions.