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
- Bartlett Tree Experts acquire Oregon's Bartlett Tree Service
- Sunseeker launches S4 robotic lawn mower
- Massey Services promotes Mumme to divisional VP, commercial services regio
- Asplundh Infrastructure Group promotes MacAleese to COO
- Caterpillar's Umpleby III to retire as executive chairman of board
- Breaking down the HighGrove Partners sale to Agellus Capital
- Registration open for the Lawn & Landscape Technology Conference
- OTR Engineered Solutions names Oscar Torres president, CEO
