July 15, 2021 //
Stillwater Capital is pleased to announce that Accelerated Systems, Inc. (ASI) has received a minority investment from Briggs and Stratton, Corp., a subsidiary of KPS Capital Partners, LP.
Stillwater represented ASI in the transaction.
Headquartered in Waterloo, Ontario, ASI is a clean-energy-focused company that develops complete traction and control systems for eMobility and Outdoor Power Equipment. They possess holistic in-house design capabilities for electric motors, controllers, and battery systems.
Briggs and Stratton, headquartered in Wauwatosa, Wisconsin, is focused on providing power to get work done and make people’s lives better. Briggs & Stratton is the world’s largest producer of gasoline engines for outdoor power equipment and is a leading designer, manufacturer, and marketer of commercial lithium-ion batteries, power generation, pressure washers, lawn and garden, turf care, and job site products
“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.”
“Bill and his team have built an excellent company. ASI is at the forefront of the global electrification movement and together with Briggs & Stratton is poised to become a market leader. We are delighted to have been a part of bringing these two organizations together,” said Jordan Nix, Executive Vice President at Stillwater Capital.
Stillwater Capital acted as the exclusive financial advisor to ASI in the transaction. Stillwater’s deal team was led by Douglas & Jordan Nix with the support of Brad Kerkhof. Pallett Valo LLP served as legal counsel to ASI.
Stillwater Capital is one of North America’s leading mid-market M&A advisors, having completed over 100 transactions in the past 18 years. Stillwater is passionate about helping owners realize maximum value in the sale of their business. We believe that people who spend their lives building a company deserve the absolute best advice to ensure that hard work is rewarded in full. Based out of Toronto, Canada, Stillwater is a member of the world’s premier professional advisory group, Geneva Capital Group, connected to 26,000 of the world’s best legal, accounting, and M&A professionals in over 750 offices in 140 countries.
Accelerated Systems, Inc. (ASI) is a clean-energy-focused company that develops complete traction and control systems for eMobility and Outdoor Power Equipment. ASI’s corporate office is located in Canada’s technology center, Waterloo, Ontario, and possesses complete in-house design capabilities for electric motors, controllers, batteries, and autonomous systems. For additional information, please visit ASI’s website, follow ASI’s LinkedIn page and subscribe to ASI’s YouTube channel.
Briggs & Stratton, headquartered in Milwaukee, Wisconsin, is focused on providing power to get work done and make people’s lives better. Briggs & Stratton is the world’s largest producer of gasoline engines for outdoor power equipment and is a leading designer, manufacturer, and marketer of commercial lithium-ion batteries, power generation, pressure washers, lawn and garden, turf care, and job site products. Briggs & Stratton products are designed, manufactured, marketed, and serviced in over 100 countries on six continents. For additional information, please visit www.basco.com and www.briggsandstratton.com.