On Sept. 15, U.S. Bankruptcy Court Judge Barry Schermer approved Briggs & Stratton’s plan to sell the company to New York City private equity firm KPS Capital Partners.
In a filing with the bankruptcy court on Sept. 14, Briggs said the sale to New York City private equity firm KPS Capital Partners isn’t completed by Sept. 27, the deal among Briggs, KPS Capital and Briggs creditors will become null and void.
The unsecured creditors committee, who had vowed oppose Briggs & Stratton’s plan for a fast-track Chapter 11 sale to private equity firm KPS Capital did not file an objection to the transaction by the Sept. 10 deadline.
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.
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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