Briggs & Stratton Corp. signed an agreement to acquire Allmand Bros. based in Holdrege, Neb., for $62 million. Allmand Bros. manufactures towable light towers, industrial heaters and solar LED arrow boards.

Todd Teske, chairman, president and CEO of Briggs & Stratton, hopes to further the company’s initiative of focusing on higher margin and commercial end use products.

“The acquisition of Allmand augments our higher margin commercial product portfolio, expands our market access to include the rental channel and helps diversify our business into industry segments that we do not meaningfully participate in today,” said Teske.

Chairman of Allmand Bros. Roger Allmand also expects this acquisition to expand Allmand’s global presence.

“The combination of Allmand with Briggs & Stratton will provide even more opportunities for our people and our customers,” he said. “With a proven track record of operating successfully for over 100 years, we believe that Briggs & Stratton will be able to accelerate our presence globally.”

The transaction is expected to close in the next 30 days.