{"id":2315,"date":"2020-09-28T06:00:01","date_gmt":"2020-09-28T10:00:01","guid":{"rendered":"https:\/\/innovativepixel.com\/IGIN\/?post_type=news&#038;p=2315"},"modified":"2021-12-30T15:39:36","modified_gmt":"2021-12-30T20:39:36","slug":"briggs-stratton-completes-sale-names-new-ceo","status":"publish","type":"news","link":"https:\/\/innovativepixel.com\/IGIN\/news\/briggs-stratton-completes-sale-names-new-ceo\/","title":{"rendered":"Briggs &#038; Stratton completes sale, names new CEO"},"content":{"rendered":"<p>KPS Capital Partners LP, through a newly formed affiliate, has acquired substantially all of the assets of Milwaukee-based <a href=\"https:\/\/www.briggsandstratton.com\/na\/en_us\/home.html\" target=\"_blank\" rel=\"noopener\">Briggs &amp; Stratton Corporation<\/a> and certain of its wholly-owned subsidiaries. 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. With the completion of the sale to KPS, the acquired business has successfully exited from its Chapter 11 Bankruptcy proceeding.<\/p>\n<p>Briggs &amp; Stratton will now operate as an independent company with the long-term support of KPS, a global private equity investor with about $11.5 billion of assets under management.<\/p>\n<p>Briggs &amp; Stratton named Steve Andrews as president and CEO effective immediately. KPS and Andrews partnered in 2011 to form International Equipment Solutions LLC. Under KPS\u2019 ownership and Andrews\u2019 leadership, IES, through a series of acquisitions and other growth initiatives, transformed two non-core divisions of a large corporation into a highly profitable company. IES became an independent manufacturer of attachment tools, operator cabs and other complex fabrications for off-highway applications.<\/p>\n<p>\u201cI am honored to lead Briggs &amp; Stratton,\u201d says Andrews. \u201cFree of any legacy liabilities, and with a strong balance sheet and the company\u2019s world-class workforce, we have an exceptional opportunity to build upon the company\u2019s leading market position. I am also pleased to partner and collaborate again with KPS, a firm that has distinguished itself as a global leader in transforming businesses and is ideally suited for this exciting venture. On behalf of the company, I would like to thank former Chairman, President and CEO Todd Teske for his decades of service and many contributions.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Steve Andrews has been named president and CEO.<\/p>\n","protected":false},"author":35,"featured_media":2317,"parent":0,"menu_order":0,"template":"","main-categories":[25],"class_list":["post-2315","news","type-news","status-publish","has-post-thumbnail","hentry","main-categories-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.8 (Yoast SEO v17.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Briggs &amp; Stratton completes sale, names new CEO - Irrigation &amp; Lighting<\/title>\n<meta name=\"description\" content=\"KPS Capital Partners acquired substantially all of the assets of Briggs &amp; Stratton Corporation and certain of its wholly-owned subsidiaries.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/innovativepixel.com\/IGIN\/news\/briggs-stratton-completes-sale-names-new-ceo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Briggs &amp; 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