Briggs & Stratton said it acquired SimpliPhi Power, a California-based manufacturer of energy storage and management systems.
Through this acquisition, Briggs & Stratton said it will accelerate its growth into the energy storage system market, expanding the business. Terms of the deal were not disclosed.
SimpliPhi Power designs and manufactures battery-based storage equipment using lithium ferrous phosphate (LFP) battery cell chemistry. The company’s web site claims that the batteries eliminate the risks of thermal runaway, operate at 98% efficiency for more than 5,000 cycles, offer up to 100% depth of discharge, and can cycle daily for 10 years.
Briggs & Stratton said it will sell 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.
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