Alpha IR Group and Reputation Partners are handling the Chapter 11 restructuring of debt-burdened Briggs & Stratton, the world's No. 1 maker of gas engines for outdoor power equipment.
The 112-year-old company has also ironed out a $550 million deal with KPS Capital Partners, which promises to keep B&S in business.
The Milwaukee-based manufacturer has been exploring its financial options during the past several months, according to CEO Todd Teske. "The challenges we have faced during the COVID-19 pandemic have made reorganization the difficult but necessary and appropriate path forward to secure our business," he said. "It also gives us support to execute on our strategic plans to bring greater value to our customers and channel partners.”
B&S suffered a $193.6M net loss for the nine-month period ended March 30 on $1.2B in revenues.
Alpha IR Group CEO Chris Hodges and Reputation Partners' CEO Nick Kalm are working the B&S reorganization.