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After considering adding Italy's Lombardini to increase its presence in the diesel market, as well as a failed attempt to develop its own designs, Briggs & Stratton accepted defeat and sold the company to a private investor for a minimal amount to avoid further liabilities. Despite investing in new production methods, Briggs & Stratton never understood the very low volume, highly customized nature of the air-cooled diesel engine market. They officially completed the acquisition on May 29, 1979. Farymann Diesel GmbH (1979–1984) – Based in Lampertheim (near Mannheim) in Germany, this was the first foreign acquisition Briggs & Stratton had ever made and was a poor fit with the company's acknowledged expertise in high volume, low cost production.Acquisitions, agreements and joint ventures This sale waives the $900 million that Briggs owed going into bankruptcy. On SeptemKPS Capital Partners closed on the acquisition of Briggs and Stratton. KPS Capital Partners would purchase a majority of the company stake for $550 Million.
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On July 20, 2020, Briggs & Stratton filed for Chapter 11 bankruptcy. In 2019, Briggs & Stratton announced they would be closing their engine factory in Murray, Kentucky with production being moved to their Poplar Bluff, Missouri facility. In 2008, Briggs & Stratton announced it would be acquiring the Victa Lawn Care business from GUD Holdings Limited Australia for A$23 million. Murray, Inc, one of its largest customers, collapsed owing the company $40 million, and to minimize the loss Briggs & Stratton purchased the name, marketing rights and product designs of that company. In 2005, the company added Simplicity Manufacturing Inc, and Snapper, Inc, to the Briggs & Stratton Power Products line. The Beacon Group had previously purchased the Consumer Products Division of Generac Corporation (now Generac Power Systems) in 1998.
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In 2000, the company acquired its consumer generator business from the Beacon Group and formed Briggs & Stratton Power Products. The resulting company is Strattec Security Corporation. In 1995, Briggs & Stratton sold the automotive component business. served as Chairman until his retirement in 2001. (the son of Harold Stratton) served as Chairman of Briggs & Stratton until his death in 1962 (Harold also died that year). Stephen Briggs went on to purchase Evinrude and Johnson Outboards and start the Outboard Marine Corporation. This development, along with the post-war growth of 1950s suburbs (and lawns), helped secure Briggs & Stratton's successful growth throughout the 1950s and 1960s. Some pre-war engines were made with aluminum, which helped the company develop its expertise in using this material. The company went public on the New York Stock Exchange in 1928.ĭuring World War II, Briggs & Stratton produced generators for the war effort. Smith Company and began powering early washing machines and reel mowers as well as many other types of equipment. Briggs purchased an engine patent from A.O. In 1922, their fledgling company set a record in the automotive industry, selling the Briggs & Stratton Flyer (the "Red Bug") at record low prices of US$125-$150.Įventually Briggs and Stratton settled on manufacturing automotive components and small gasoline engines. Stratton, a successful grain merchant who had a farm next to Juneau's farm, so he introduced the two. Bill Juneau, a coach at South Dakota State, knew of Briggs' ambition and the entrepreneurial interests of Harold M. After his graduation, he was eager to produce his engine and enter the rapidly expanding automobile industry. This first product was a six-cylinder, two-cycle engine, which Stephen Foster Briggs developed during his engineering courses at South Dakota State. The idea for his first product came from an upper-level engineering class project at SDSC. Briggs was born in Watertown, South Dakota, and graduated from South Dakota State College ((SDSC) now South Dakota State University) in Brookings in 1907. The company started in 1908 as an informal partnership between Stephen Foster Briggs and Harold M. The aluminum engine was the perfect solution for the recently invented rotary lawnmower due to its lighter weight and lower cost.
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Their original cast-iron engines were known for their durability, but the company's success was established following the development of lightweight aluminum engines in 1953. Briggs & Stratton engines are commonly used on lawnmowers, as well as pressure washers, electrical generators, go-karts, and a wide variety of other applications. Launched in 1908 in Milwaukee, Wisconsin, the company is based today in Wauwatosa, Wisconsin. 7 Headquarters, manufacturing plants and testing facilities.2 Acquisitions, agreements and joint ventures.