6 years since emerging from bankruptcy, Briggs & Stratton has experienced a growth in sales and employment, returning to profitability. However, it is not in the company’s plans to return to the large-scale manufacturing in Wauwatosa, Wis., reports the Milwaukee Business Journal.
CEO of Briggs & Stratton, Kristina Cerniglia, spoke to Milwaukee Business Journal about their transformation story, saying she has spent her first 2years as CEO focusing on rebuilding the leadership team and culture. The company has invested around $400 million to support its financial stability, such as reducing debt and investing.
“Its has been hard — it has been a slog,” Cerniglia told the paper. “It is the hardest I have ever worked in my life, but incredibly rewarding to see where we are.”
Cerniglia said the decision to shut down manufacturing in Wauwatosa was to protect the financial future of the company. While, they don’t plan on bringing back high level manufacturing, the company still performs small-scale manufacturing in Wauwatosa, focusing on batteries and racing engines. Their headquarters functions in Wauwatosa, along with a service and distribution center in Menomonee Falls, Wis.
According to Milwaukee Business Journal, former CEO Steve Andrews said the company had around 1,200 employees in the Milwaukee metro area in June 2021. As of recent, spokeswoman Rebecca Shaffer shared that Briggs & Stratton employees more than 600 employees in metro Milwaukee and around 3,200 company wide.
Cerniglia told the Milwaukee Business Journal that as revenue increases, she sees a future where the company increases the local employment at the Menomee Falls facility, along with hiring additional engineers and office support staff.
KPS Capital Partners has been a big support to Briggs & Stratton, Cerniglia told Milwaukee Business Journal. According to Cerniglia, KPS has invested over $250 million, mostly to Briggs plants.
Cernigilia also told the Milwaukee Business Journal that KPS have indicated they are willing to further invest through acquisitions. Although uncertain if they will have an acquisition soon, Cerniglia said that she is wanting to make sure any acquisitions do not disrupt the company’s main business.
