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
- Develon unveils -9 Series heavy excavators
- News you might've missed last week
- Lifescape Colorado's Hupf moves to regional role as Ostheimer becomes president
- Your most reliable predictor of success
- LandCare names McCallon, Miller as branch managers
- Takeuchi-US names Paul Wade, Eric Wenzel as dealer development managers
- CASE continues partnership with country artist Jon Pardi
- Greenlee debuts new battery-powered remote pruner
