Briggs and Stratton, a well-known name in the manufacturing of small engines and outdoor power equipment, has been a staple in the industry for many years. The company, founded in 1908, has built a reputation for producing reliable and durable engines used in various applications, from lawn mowers to generators. Over the years, Briggs and Stratton have faced numerous challenges, including economic downturns and increased competition. Despite these hurdles, the company has continued to innovate and adapt to changing market demands.
Is Briggs and Stratton still in business? Yes, Briggs and Stratton is still in business. The company has undergone significant changes in recent years, including filing for Chapter 11 bankruptcy in July 2020. This move was part of a restructuring effort aimed at reducing debt and improving financial stability. Despite the bankruptcy filing, Briggs and Stratton continued to operate and serve its customers during the restructuring process. In September 2020, KPS Capital Partners, a private equity firm, acquired the assets of Briggs and Stratton, allowing the company to emerge from bankruptcy and continue its operations under new ownership.
History and Challenges
Briggs and Stratton’s history is marked by innovation and adaptation. The company started by manufacturing automotive parts and later shifted its focus to small engines. Throughout the 20th century, Briggs and Stratton expanded its product line and established itself as a leader in the industry. However, the company faced several challenges, including increased competition from foreign manufacturers and changing consumer preferences. These challenges, coupled with economic downturns, put financial pressure on the company, leading to the Chapter 11 bankruptcy filing in 2020.
Acquisition by KPS Capital Partners
The acquisition by KPS Capital Partners was a turning point for Briggs and Stratton. KPS Capital Partners is known for investing in and revitalizing struggling companies. The acquisition provided Briggs and Stratton with the financial resources and strategic direction needed to stabilize its operations and focus on growth. Under the new ownership, Briggs and Stratton have continued to manufacture and sell its products, maintaining its presence in the market. The company has also focused on innovation and expanding its product line to meet the evolving needs of its customers.
In conclusion, Briggs and Stratton is still in business and continues to be a significant player in the small engine and outdoor power equipment industry. Despite facing financial challenges and undergoing a restructuring process, the company has emerged stronger and is poised for future growth under the ownership of KPS Capital Partners. The company’s commitment to innovation and quality has allowed it to maintain its reputation and continue serving its customers around the world.