BRIGGS & STRATTON BUY INTO ELECTRIFICATION COMPANY
Ownership stake in Accelerated Systems, Inc
Briggs & Stratton announced last week that 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.
In a statement Briggs & Stratton said the advanced electric drive systems that ASI develops complement their own 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,” said Steve Andrews, Briggs & Stratton’s President and CEO. “This acquisition provides meaningful capabilities that will significantly accelerate our electrification strategy.”