Briggs & Stratton Acquires Equity in Accelerated Systems, Inc.
Ownership Stake to Accelerate Company’s Electrification Strategy
MILWAUKEE (July 14, 2021) – Briggs & Stratton today announced it has acquired a minority stake in Accelerated Systems, Inc. (ASI) which develops complete traction and control systems for vehicles and has in-house design capabilities for electric motors, controllers and battery systems. The agreement includes the option for Briggs & Stratton to acquire additional equity in ASI over the next five years.
The advanced electric drive systems that ASI develops complement Briggs & Stratton’s strategic focus of being power application experts for its customers, which includes internal combustion engines, electrified products and technologies and hybrid solutions.
“This is an important technology investment for Briggs & Stratton as we continue to expand our capabilities as a power application company,” says Steve Andrews, Briggs & Stratton’s President and CEO. “This acquisition provides meaningful capabilities that will significantly accelerate our electrification strategy.”
Godfrey & Kahn S.C. and Borden Ladner Gervais LLP served as legal counsel to Briggs & Stratton. Stillwater Capital Corporation served as financial advisor and Pallett Valo LLP served as legal counsel to ASI.
Briggs & Stratton
About Briggs & Stratton
Briggs & Stratton, headquartered in Milwaukee, Wisconsin, is focused on providing power to get work done and make people's lives better. 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. Briggs & Stratton products are designed, manufactured, marketed and serviced in over 100 countries on six continents.