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Briggs acquires equity in Accelerated Systems

July 20, 2021 -  By
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Briggs & Stratton has acquired a minority stake in Accelerated Systems Inc. (ASI), which develops complete traction and control systems for vehicles and has in-house design capabilities for electric motors, controllers and battery systems.

The agreement includes the option for Briggs & Stratton to acquire additional equity in ASI over the next five years.

The advanced electric drive systems that ASI develops complement Briggs & Stratton’s strategic focus of being power application experts for its customers, which includes internal combustion engines, electrified products and technologies and hybrid solutions, according to the company.

“This is an important technology investment for Briggs & Stratton as we continue to expand our capabilities as a power application company,” saod Steve Andrews, Briggs & Stratton’s president and CEO. “This acquisition provides meaningful capabilities that will significantly accelerate our electrification strategy.”

Godfrey & Kahn S.C. and Borden Ladner Gervais LLP served as legal counsel to Briggs & Stratton. Stillwater Capital Corporation served as financial adviser, and Pallett Valo LLP served as legal counsel to ASI.

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