Briggs & Stratton Corporation (BGG) News
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Latest BGG News From Around the Web
Below are the latest news stories about Briggs & Stratton Corp that investors may wish to consider to help them evaluate BGG as an investment opportunity.
The buyer is KPS Capital Partners (stalking-horse bidder).Alongside the Chapter 11 filing, the company has secured $677.5M in debtor-in-possession financing.Source: Press Release[[BGG]] -6.5% premarket to $0.73....
KPS Capital Partners, a private equity firm, has entered into an agreement to buy the assets of the 112-year-old company for $550 million.
Briggs & Stratton Corp. has filed for bankruptcy protection and agreed to sell assets to KPS Capital Partners LP as the company has faced declining sales and losses since the onset of the coronavirus pandemic.
Briggs & Stratton Corp., billed as the world’s largest manufacturer of small gas engines, has filed for bankruptcy protection citing challenges due to the coronavirus pandemic
World's Largest Producer Of Small Gasoline Engines Files For Bankruptcy Tyler Durden Mon, 07/20/2020 - 22:30 Briggs & Stratton Corporation, the world's largest manufacturer of small gasoline engines with headquarters in Wauwatosa, Wisconsin, filed petitions on Monday morning for a court-supervised voluntary reorganization under Chapter 11, along with plans to sell "all the company's assets" to KPS Capital Partners. The Fortune 1000 manufacturer of gasoline engines was able to secure a $677.5 million in Debtor-In-Possession (DIP) financing to support operations through reorganization efforts. The Company also said it "entered into a definitive stock and asset purchase agreement with KPS." To facilitate the sale process and address its debt obligations, the Company has filed petitions for...
Briggs & Stratton Corp. undefined said Monday it has filed for chapter 11 bankruptcy protection and reached an agreement to sell most of its assets to KPS…
Briggs & Stratton Corporation -- Moody's downgrades Briggs & Stratton's PDR to D-PD following Chapter 11 filing
Moody's Investors Service, ("Moody's") downgraded Briggs & Stratton Corporation's ("Briggs & Stratton") probability of default rating (PDR) to D-PD from Ca-PD following the company's July 20, 2020 announcement that it has filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. Briggs & Stratton has also obtained $677.5 million in DIP financing, with $265 million committed by KPS Capital Partners, LP ("KPS") and the remaining $412.5 from the company's existing group of ABL lenders. Briggs & Stratton also entered into a definitive stock and purchase agreement with an affiliate of KPS to acquire substantially all of the company's assets and assume certain liabilities, subject to higher bids from other potential purchasers.
(Bloomberg) -- Another icon of post-war American suburbia went bust as Briggs & Stratton Corp. declared bankruptcy, felled by weak sales, too much debt and a final push over the edge from the coronavirus pandemic.The world’s biggest maker of gasoline engines for outdoor power equipment sought protection from creditors in a St. Louis bankruptcy court on Monday, citing debts of more than $1 billion. The filing included a $550 million bid for the company from KPS Capital Partners, a New York private equity firm, which promised to keep Briggs & Stratton in business without the crushing debt that plagued the century-old company.KPS, whose portfolio includes TaylorMade golf clubs and Life Fitness gym equipment, specializes in manufacturing companies. It agreed to serve as the lead bidder in a...
(Bloomberg) -- Briggs & Stratton Corp., the century-old maker of engines for lawn mowers and garden equipment, filed for bankruptcy with plans to sell its assets to a private equity firm specializing in manufacturers.KPS Capital Partners, whose portfolio includes TaylorMade golf clubs and Life Fitness gym equipment, has agreed to serve as the lead bidder in a court-supervised auction with a $550 million offer and is contributing to a bankruptcy loan that will keep Briggs & Stratton operating, according to a statement. KPS said it has already negotiated a new contract with the United Steelworkers of America.The filing in U.S. Bankruptcy Court in Missouri listed more than $1 billion each of assets and liabilities. The company has been pressured by falling sales and unfavorable weather con...
Briggs & Stratton files for Chapter 11 bankruptcy protection and announces a $550 million deal to be acquired by private equity firm KPS Partners.