Briggs & Stratton LLC has named Steve Andrews its new president and chief executive officer following its sale to an affiliate of KPS Capital Partners.
A Missouri bankruptcy judge approved the sale last week and the deal closed Monday. The sale allows New York-based KPS to acquire nearly all of the assets of Wauwatosa-based Briggs & Stratton Corp. free and clear of substantially all liens, claims, encumbrances and interests for $550 million. Unsecured creditors were expected to receive 7 to 10 cents on the dollar in recovery.
Andrews replaces Todd Teske, the former chairman, president and CEO of Briggs. A Briggs spokesman said Teske would remain with Briggs & Stratton Corp., the legacy company, until the bankruptcy process is complete.
For more information, see the full article from BizTimes.
Latest from Lawn & Landscape
- Riverview Landscapes acquires segments of Irrigation and Landscape Management's business
- Strata Landscape Services acquires Watersedge in San Diego
- 2025 State of the Industry webinar
- True to form
- Irrigation Association awards new products, startup of the year
- McFarlin Stanford taps Wallingford as CEO
- Don't miss our free webinar
- Leveling up
