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Generac, the U.S-based manufacturer of backup power generation products, has expressed interest in purchasing certain assets of Briggs & Stratton, suggest reports out of America.
According to a piece in the Milwaukee Business Journal an objection was filed by Generac on August 11th, to Briggs & Stratton running a fast-track bankruptcy auction - which includes KPS Capital Partners as its stalking-horse bidder.
The local Business Journal reports that Generac’s filing states it “is a potential bidder” in the Briggs bankruptcy and “has significant interest in acquiring certain assets”.
The article goes on to say, "Some of Briggs’ businesses align with and complement Generac product lines, including power generators, light towers, heaters and commercial lawn and garden products, Generac said.
“"We view the competitive overlap between Generac and Briggs as minimal,” Generac executive Steve Goran said in an email attached to the Generac filing.
"Generac’s filing noted that the company buys engines from Briggs for some outdoor “power chore products.” Generac is listed as a creditor of Briggs for an unspecified amount in a separate filing in the case."
Generac manufacture a range of power products including portable, residential, commercial and industrial generators.
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