Briggs & Stratton plans to acquire California-based
SimpliPhi Power, a California-based manufacturer of energy storage and management systems.
SimpliPhi Power’s products store solar, grid and wind power for future use by residential commercial and industrial customers.
The company manufacturers efficient and non-toxic energy storage and management systems that use lithium-ion batteries to store power generated by residential solar panels among other sources, according to the company.
Briggs says the acquisition will help meet the demand for power in the event of outages, the need to store excess energy to offset high electricity costs during peak times and the ability to supplement power from the utility grid.
The acquisition will also allow Briggs to accelerate growth in the energy storage systems market, Briggs & Stratton president and CEO Steve Andrews said in a statement.
"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,” Andrews said in a statement.
The Wauwatosa-based engine and standby generator manufacturer did not disclose the terms of the deal.
Following the acquisition, Briggs plans to offer SimpliPhi’s products through its own distribution channels, according to the company. Briggs will also continue to service SimpliPhi’s existing distribution channels.
"Combining forces with Briggs & Stratton will provide SimpliPhi Power with new growth opportunities and substantial resources to lead the energy storage system market,” SimpliPhi Power CEO Catherine Von Burg said in a statement.
The SimpliPhi deal follows the acquisition of
Accelerated Systems, Inc., a clean energy technology company that
Briggs acquired a minority stake in earlier this year.
