Responsive Image Banner

Generac will not acquire Briggs & Stratton

Premium Content

15 September 2020

generac-power-systems-vector-logo

Generac did not submit a bid by the deadline

Generac Power Systems, based in Waukesha, Wisconsin in the US, has withdrawn its previously expressed interest in bidding on another Wisconsin-based stalwart, Briggs & Stratton Corp.

Generac, maker of portable worksite equipment including generators and light towers, competes with veteran engine-turned-light-equipment manufacturer Briggs on some product lines. 

According to reports in the Milwaukee Business Journal, the company did not submit a bid by the deadline of 28 August, after indicating an intention to do so in mid-August.

It was also reported that no other prospective buyers submitted qualified bids by the deadline, and Briggs will now likely be sold to baseline bidder KPS Capital Partners, a global private equity firm, at US$550 million for nearly all of Briggs & Stratton’s assets.

The Business Journal reports that a hearing on the sale was scheduled for 15 September and an attorney for the official unsecured creditors committee said the committee will challenge the proposed sale.

Tom Hayes, an analyst with Northeast Research in Cleveland, Ohio in the US told the news outlet that it’s possible Generac wasn’t interested in all of Briggs’ assets.

STAY CONNECTED


Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.

Sign up

Latest News
Almac launches spider rental range
New BA-Line has series of features suited to the rental market 
Sunbelt adds drones to US rental fleet
Partners with a leading US drone manufacturer
Loxam renews communications and wireless connections contract
Moves into ‘second generation’ agreement with GTT
CONNECT WITH THE TEAM
Murray Pollok Editor, International Rental News Tel: +44 (0)1505 850043 E-mail: [email protected]
Lucy Barnard Editor, Rental Briefing Tel: +44 (0)1892 786 241 E-mail: [email protected]
Ollie Hodges Vice President, Sales Tel: +44 (0)1892 786253 E-mail: [email protected]
CONNECT WITH SOCIAL MEDIA
International Rental News newsletter

Rental Intelligence — When You Need It, How You Need It

Stay ahead with industry trends, expert insights and global news — in your inbox.

Sign me up