KPS Capital Partners Acquires Briggs & Stratton
September 15, 2020
KPS Capital Partners, through a newly formed affiliate, acquired substantially all assets of Briggs & Stratton Corporation in a Section 363 sale following the Company's Chapter 11 filing, for approximately $550 million. KPS provided $265 million of DIP financing, secured committed exit financing, and named Steve Andrews as President and CEO to lead a relaunch of the company as a well-capitalized independent manufacturer.
- Buyers
- KPS Capital Partners, LP (through a newly formed affiliate)
- Targets
- Briggs & Stratton Corporation
- Sellers
- Briggs & Stratton Corporation (bankruptcy estate)
- Industry
- Manufacturing
- Location
- Wisconsin, United States
- Transaction Type
- Buyout
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