Acquisition Expands Business to Offer Broad Range of Energy Storage Solutions
Briggs & Stratton announced today it has acquired SimpliPhi Power, a California-based manufacturer of energy storage and management systems which store solar, grid and wind power for future use by residential, commercial and industrial customers. Through this acquisition, Briggs & Stratton will accelerate its growth into the energy storage system market, expanding the business to offer a comprehensive range of products that provide safe, reliable and affordable energy solutions to a broader group of customers in this fast growing market.
There is rapidly-growing demand for energy storage systems that provide power in the event of an outage, store excess energy to offset high electricity costs during peak times and supplement power from the utility grid. SimpliPhi Power designs and manufactures efficient, non-toxic and enduring energy storage and management systems that utilize lithium-ion batteries to store power generated by residential solar panels, among other sources.
"This acquisition quickly establishes a strong position for Briggs & Stratton in the high-growth energy storage system market," says Steve Andrews, President and CEO of Briggs & Stratton. "The SimpliPhi Power team brings deep application expertise, strong technical support and proven, successful products to the Briggs & Stratton portfolio of power-agnostic products and technology solutions."
"Combining forces with Briggs & Stratton will provide SimpliPhi Power with new growth opportunities and substantial resources to lead the energy storage system market. Briggs & Stratton's expansive distribution network, power application expertise, and commitment to innovation will accelerate our growth and our mission of providing resilient energy storage systems that create universal access to safe, reliable and affordable energy to empower people, communities and enterprises globally," says Catherine Von Burg, CEO of SimpliPhi Power.
Briggs & Stratton intends to offer SimpliPhi Power products through its own distribution channels in addition to continuing to service SimpliPhi Power's existing distribution channels.
Godfrey and Kahn S.C. served as legal counsel to Briggs & Stratton. Needham & Company, LLC served as financial advisor and Wilson Sonsini Goodrich & Rosati served as legal counsel to SimpliPhi Power. Terms of the deal were not disclosed.
About Briggs & Stratton
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 washer, lawn and garden, turf care and job site products through its Briggs & Stratton®, Simplicity®, Snapper®, Ferris®, Vanguard®, Allmand®, Billy Goat®, Murray®, Branco® and Victa® brands. Briggs & Stratton products are designed, manufactured, marketed and serviced in over 100 countries on six continents.
About SimpliPhi Power
With a mission to create universal access to safe, reliable, and affordable energy, SimpliPhi Power designs and manufactures efficient, non-toxic, and enduring energy storage and management systems that utilize environmentally benign lithium ferro phosphate (LFP) battery chemistry. Based in Oxnard, California, SimpliPhi combines the non-hazardous LFP energy storage chemistry with its proprietary cell and battery architecture, power electronics, Battery Management System (BMS) and manufacturing processes to create safe, reliable, durable, and highly scalable on-demand power solutions for residential, commercial, industrial, and government sectors. For more information, visit www.simpliphipower.com.