Todd Teske, the former chairman and CEO of Briggs & Stratton, has filed an $11.6 million claim in the bankruptcy case seeking his share of payments that are likely to be in the range of 7-8 cents on the dollar
No other prospective buyers submitted qualified bids by the deadline, and it appears Briggs will likely be sold to baseline bidder KPS at $550 million for nearly all of Briggs & Stratton’s assets.
A U.S. Bankruptcy Court judge approved Briggs & Stratton Corp.’s proposal for a fast-track sale of the company via auction despite creditors’ objections, while recent court filings show Generac Power Systems remains in the running as a potential bidder.
Under the terms of the agreement, an affiliate of KPS formed for purposes of this transaction has agreed to acquire substantially all of the Company's assets and assume certain customer, employee and vendor liabilities, and it would act as the stalking-horse bidder through a court-supervised sale process
In this episode of On the Record, brought to you by Associated Equipment Distributors, we take a look at dealer consolidation has impacting the number of big dealers in 2025.
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