MILWAUKEE (July 14, 2021) - Briggs & Stratton today announced it 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.

'This is an important technology investment for Briggs & Stratton as we continue to expand our capabilities as a power application company,' says 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 advisor and Pallett Valo LLP served as legal counsel to ASI.

Media Contact:
Lauren Vagnini
Briggs & Stratton
vagnini.lauren@basco.com

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Briggs & Stratton Corporation published this content on 14 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 July 2021 00:24:09 UTC.