According to a Jan. 22 Milwaukee Business Journal article, the private equity owners of Briggs & Stratton, based in Wauwatosa, Wis., are not ready to sell. 

In an exclusive interview between Briggs & Stratton CEO Kristina Cerniglia and the Milwaukee Business Journal, Cerniglia discussed the future of the legacy Milwaukee-area manufacturer’s remaining local operations and why Briggs has shelved battery-powered rider mowers, as well as its future in the portfolio of KPS Capital Partners. A summary of the Milwaukee Business Journal article is condensed and offered here. 

The company was sold out of bankruptcy in September 2020 for $550 million to New York City private equity firm KPS Capital Partners, according to the reporting, which said Cerniglia confirmed the company struggled financially through 2023 but that the profits were improved with stronger profits. Annual revenue figures were not disclosed. The Milwaukee Business Journal article also reported that after initial assurances from the first KPS-hired CEO Steve Andrews that Briggs & Stratton would grow in metro Milwaukee under the new owners, the company closed a distribution center in Germantown, relocated engine-component production lines in Wauwatosa, and phased out production lines in Wauwatosa for engine components and air-cooled home standby generators as well as lawn tractors and snow throwers.

The company manufactures engines for outdoor power equipment; lithium-ion batteries; standby generators; energy storage systems and lawn and garden, turf care and job site products. 

Cerniglia was named interim CEO last February, and officially appointed CEO in July 2024. She joined the company in June 2022 as chief financial officer, according to the report. The news article summarizes its exclusive interview with Cerniglia, discussing the future of the manufacturing company, its remaining local operations, and why it has shelved its battery-powered rider mowers.

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