On Sept. 15, U.S. Bankruptcy Court Judge Barry Schermer approved Briggs & Stratton’s plan to sell the company to New York City private equity firm KPS Capital Partners.

Under the terms of the agreement, an affiliate of KPS formed for purposes of this transaction has agreed to acquire substantially all of the Company's assets and assume certain customer, employee and vendor liabilities, and it would act as the stalking-horse bidder through a court-supervised sale process.