US-based Briggs & Stratton Corporation has acquired Billy Goat Industries, a leading manufacturer of speciality turf equipment including aerators, overseeders, power rakes, brush cutters, walk behind blowers and debris loaders.
Billy Goat has annual net sales of approximately $30 million (€27 million). Briggs & Stratton has acquired all the outstanding shares of Billy Goat for approximately $26 million in cash (€23.3 million), subject to customary post-closing working capital adjustments.
Harold L Redman, Briggs & Stratton vice president and president of its turf and consumer products business, said: “The products complement our already strong commercial turf brands, add speciality lines with market leading innovation and further increase our market access to the rental channel.”
Todd J Teske, chairman, president and chief executive officer of Briggs & Stratton Corporation, added: “Billy Goat Industries helps us to further our strategic initiative of focusing on higher margin commercial products.
“We welcome the management team and the employees of Billy Goat to our team, and look forward to building upon the strong foundation that has made them a strong and successful company.”
Briggs & Stratton Corporation, headquartered in Milwaukee, Wisconsin, is the world's largest producer of petrol engines for outdoor power equipment. Its wholly owned subsidiaries include North America's number one marketer of portable generators, pressure washers and turf care products.