Wauwatosa-based Briggs & Stratton Corp. has completed its acquisition of Holdrege, Neb.-based Allmand Bros Inc. for about $62 million in cash for all outstanding shares, net of acquired cash. Briggs & Stratton financed the transaction from cash on hand.
“This acquisition helps us to further our strategic initiative of focusing on attractive higher margin, commercial end use products,” said Todd Teske, chairman, president and chief executive officer of Briggs & Stratton, when the acquisition was announced. “The acquisition of Allmand augments our higher margin commercial product portfolio, expands our market access to include the rental channel, and helps diversify our business into industry segments that we do not meaningfully participate in today. In addition, we believe this acquisition will accelerate our sales growth in the U.S. and abroad. We look forward to welcoming the management team and the employees of Allmand to our team, and building upon the strong foundation that has made Allmand a highly successful company.”
Allmand Bros. designs and manufactures high quality towable light towers, industrial heaters and solar LED arrow boards used for construction, roadway, oil and gas, mining and sporting and special events. It has about $80 million in annual sales and sells its products and parts in 40 countries.
“For over 75 years, Allmand has been producing innovative products that make customer worksites brighter, warmer, safer, and more productive,” Roger Allmand, chairman of Allmand Bros., said when the acquisition was announced. “The combination of Allmand with Briggs & Stratton will provide even more opportunities for our people and our customers. With a proven track record of operating successfully for over 100 years, we believe that Briggs & Stratton will be able to accelerate our presence globally.”
