KPS Capital Partners, an American investment company, agreed to acquire Briggs & Stratton, a designer, manufacturer and marketer of power generation, pressure washer, lawn and garden, turf care and job site products, for $550m. "We are very excited to acquire Briggs & Stratton, a legendary brand in American manufacturing and the leading company in its industry. Briggs & Stratton enjoys a leading market position, scale, a global manufacturing footprint, world-class design and engineering capabilities, and a portfolio of industry-leading products sold under iconic brand names. We intend to capitalize on the Company's many attractive growth opportunities and to support its already substantial investment in research and development, technology and new product development. KPS intends to grow the new Briggs & Stratton aggressively through strategic acquisitions," Michael Psaros, KPS Co-Founder and Co-Managing Partner.