Over the past 112 years, it has produced more than 125 million engines. Briggs & Stratton has entered into a $550 million definitive stock and asset purchase agreement with KPS Capital Partners, which has a 20-year history focused on developing manufacturing companies. Briggs entered into a definitive stock and asset purchase agreement with KPS Capital Partners on July 20. 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 subsidiaries (collectively, “Briggs & Stratton”, the “Company” or the “Acquired Business”). Bloomberg: KPS Capital Partners Goes on Offense Buying Humvee and Lawn Mower Makers. KPS Capital Partners, LP ("KPS") announced that, through a newly formed affiliate, it has entered into an asset purchase agreement with Briggs & Stratton Corporation and certain of its wholly-owned subsidiaries under which KPS will acquire substantially all of the assets of Briggs & Stratton, including equity of foreign subsidiaries, for approximately $550 million. KPS Capital Partners Completes Acquisition of Briggs & Stratton Corporation, Briggs & Stratton Announces Completion of Sale to KPS Capital Partners, Milwaukee Business News: Potential Briggs & Stratton private equity buyer has history of investment, Bloomberg: KPS Capital Partners Goes on Offense Buying Humvee and Lawn Mower Makers, USW: KPS Purchase of Briggs & Stratton Will Rescue Hundreds of Jobs, KPS Capital Partners Agrees to Acquire Substantially All of the Assets of Briggs & Stratton Corporation, Including Equity of Foreign Subsidiaries. Briggs & Stratton Announces Completion of Sale to KPS Capital Partners, Aug 20, 2020 A syndicate of banks including Wells Fargo, Bank of America, BMO Harris Bank and PNC Business Credit has committed to provide financing to Briggs & Stratton. KPS acquired the assets free and clear of liens, claims, encumbrances and interests through a sale under Section 363 of the United States Bankruptcy Code. Briggs & Stratton announced that KPS Capital Partners LP, through a newly formed affiliate, has acquired substantially all the assets of Briggs & Stratton Corp. and certain of its wholly owned subsidiaries. Dafür verkauft Briggs & Stratton Firmenanteile an die New Yorker Private Equity-Gesellschaft KPS Capital Partners LP. Briggs & Stratton said it encouraged KPS and J.P. Morgan Chase, which is the leader of Briggs’ bank group, to make concessions that would improve financial recoveries to unsecured creditors. “Briggs & Stratton enjoys a leading market position, scale, a global manufacturing footprint, world-class design and engineering capabilities, and a portfolio of industry-leading products sold under iconic brand names. Briggs & Stratton has announced that KPS Capital Partners, through a newly formed affiliate, has acquired substantially all of the assets of Briggs & Stratton and certain of its wholly owned subsidiaries for approximately $550 million. Briggs & Stratton, headquartered in Milwaukee, Wisconsin, provides power to get work done and make people’s lives better. Briggs & Stratton Exits Chapter 11 with New Owner and CEO. 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 does not assume responsibility for independent verification of such information and has relied on such information being complete and accurate in all material respects. Der Motorenanbieter soll nun als unabhängiges Unternehmen mit der langfristigen Unterstützung von KPS operieren, einem weltweit führenden Private Equity-Investor. KPS intends to grow the new Briggs & Stratton aggressively through strategic acquisitions.”. © Copyright 2020, KPS Capital Partners, LP. Der US-amerikanische Motorenbauer Briggs & Stratton hat Insolvenz angemeldet und soll verkauft werden. “We are very excited to acquire Briggs & Stratton, a legendary brand in American manufacturing and the leading company in its industry,” said Michael Psaros, a co-founder and co-managing partner of KPS. For information on our data processing practices, please read our privacy policy here. May 01, 2020. Many of KPS’s investments involve creating new companies to buy underperforming or distressed assets, companies operating in bankruptcy or in default of obligations to creditors, or with a history of recurring operating losses. Private Equity International: Six Firms Making Their Mark VIEW SOURCE. Company exits Chapter 11, has “rock solid capital structure” under new ownership. MILWAUKEE, WI (September 23, 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 subsidiaries (collectively, “Briggs & Stratton”, the “Company” or the “Acquired Business”). Certain information on or linked to from this site is furnished by or is derived from materials furnished by outside sources. There is a right and a wrong in the universe, and that distinction is not hard to make. Briggs & Stratton Corporation Briggs & Stratton announced that KPS Capital Partners, LP (“KPS”), through a newly formed affiliate, has acquired substantially all of the assets of Briggs & Strat… T: 212.338.5100 | F: 646.307.7100. KPS verwaltet derzeit ein Vermögen von rund 11,5 Mrd. 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. The Wall Street Journal: KPS Capital Bets on Energy in Buying Lufkin Unit of Baker Hughes VIEW SOURCE . KPS Capital Partners, LP is a global and renowned private equity firm with exclusive expertise in investing across a range of manufacturing industries. For the trailing twelve months, Briggs & Stratton had revenues of $1.7 billion, gross profit of $242 million (14% GPM), and a negative EBITDA of $68 million. The U.S. Bankruptcy Court … Bloomberg: KPS Capital Partners Goes on Offense Buying Humvee and Lawn Mower Makers, Jul 20, 2020 Company owned brands include Briggs & Stratton, Simplicity, Snapper, Ferris, Vanguard, Allmand, Billy Goat, Murray, Branco and Victa. Briggs & Stratton files for Chapter 11 bankruptcy protection and announces a $550 million deal to be acquired by private equity firm KPS Partners. Receive KPS Press Releases and Announcements, Type the characters in the security code below*. The new CBA will become effective upon completion of the acquisition. Jul 20, 2020 USW: KPS Purchase of Briggs & Stratton Will Rescue Hundreds of Jobs. Briggs & Stratton announced that KPS Capital Partners LP, through a newly formed affiliate, has acquired substantially all the assets of Briggs & Stratton Corp. and certain of its wholly owned subsidiaries. KPS Capital Partners Agrees To Acquire Substantially All Of The Assets Of Briggs & Stratton Corporation, Including Equity Of Foreign Subsidiaries PRESS RELEASE PR Newswire Jul. 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. Briggs & Stratton (NYSE: BGGSQ) is the world’s largest producer of gasoline engines for outdoor power equipment used for power generation, pressure washing, lawn and garden, and turf care. Any statements and quotes from third-parties are not selected on the basis of any performance-based data. KPS Capital Partners Agrees To Acquire Substantially All Of The Assets Of Briggs & Stratton Corporation, Including Equity Of Foreign Subsidiaries USA - English Nederland - Nederlands USW: KPS Purchase of Briggs & Stratton Will Rescue Hundreds of Jobs, Jul 20, 2020 Jul 20, 2020 KPS Capital Partners Agrees to Acquire Substantially All of the Assets of Briggs & Stratton Corporation, Including Equity of Foreign Subsidiaries Briggs & Stratton ist von KPS Capital Partners übernommen worden. There’s something retro about KPS Capital Partners. KPS Capital Partners, LP ("KPS") announced today that, through a newly formed affiliate, it has entered into an asset purchase agreement with Briggs & Stratton Corporation (NYSE: BGG) and certain of its wholly-owned subsidiaries (collectively, "Briggs & Stratton" or the "Company Allerdings ist die endgültige Übernahme noch nicht abgeschlossen, auch andere Interessenten könnten noch bieten. Briggs & Stratton has about 5,200 worldwide employees with 1,300 in Wisconsin. www.basco.comwww.briggsandstratton.com, Sep 22, 2020 KPS is poised to buy Briggs & Stratton Corp., the bankrupt maker of landscaping equipment, and in the past three months the $11.4 billion firm purchased … Das Geschäft soll auftrechterhalten werden. New York, NY 10017 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 subsidiaries (collectively, “Briggs & Stratton”, the “Company” or the “Acquired Business”). As part of this transaction, KPS has entered into an agreement in principle with the United Steelworkers of America under a new collective bargaining agreement (CBA) for Briggs & Stratton’s hourly employees at its manufacturing facilities in Wisconsin. KPS Capital Partners Agrees To Acquire Substantially All Of The Assets Of Briggs & Stratton Corporation, Including Equity Of Foreign Subsidiaries PRESS RELEASE PR … On July 20, Briggs & Stratton voluntarily filed for Chapter 11 bankruptcy protection to allow the company and its creditors to work out a reorganization plan, and the company has asked the bankruptcy court to designate KPS as its stalking horse bidder. Briggs & Stratton was founded in Milwaukee in 1908 and at one point was the world’s largest manufacturer of small gasoline engines. Briggs & Stratton products are designed, manufactured, marketed and serviced in over 100 countries on six continents. I understand that I can opt-out of receiving these communications at any time. The information set forth in the materials on this site is as of September 30, 2020 and does not purport to be a complete summary of KPS or its investments. Konkurs angemeldet marketed and serviced in over 100 countries on six continents that can! 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