Polaris acquires Aixam Mega
Polaris Industries Inc., listed on the New York Stock Exchange as ‘PII’, announced on April 11, 2013 that it has acquired AM Holding SAS, trading as ‘Aixam Mega SAS’. AM Holding SAS, based in Aix-les-Bains, France, is a privately held company that manufactures and sells in Europe light commercial vehicles and closed road vehicles specifically for use without a car driver’s license. The acquisition of Aixam Mega significantly strengthens Polaris’ existing small vehicle range, which also includes GEM and Goupil vehicles, and increases Polaris’ profitability and growth potential in EMEA (Europe, Middle East and North America). Africa).
New Polaris factory in Opole / Poland
“Aixam Mega is a perfect fit for Polaris and gives us a unique opportunity to expand our small vehicle lineup and accelerate our international growth,” said Scott Wine, Polaris chairman and CEO. “We want to position Polaris as an international force in the growing small vehicle market. This investment underscores our commitment to building a global business that can grow profitably over the long term. Consistent with our recently announced plan to establish a manufacturing facility in Opole, Poland, the acquisition of Aixam Mega is a clear sign of our confidence that EMEA will make a significant contribution to Polaris’ drive for productivity, innovation and growth.”
Aixam Mega designs, manufactures and sells passenger and light goods vehicles under the Aixam and Mega brands. These are four-wheeled, closed road vehicles that are characterized by their light weight and low speed and can be driven in many countries without a car driver’s license. Founded in 1983, the company has enjoyed a solid financial performance and profitable growth. In 2012 it generated sales revenue of 84 million euros through a distribution network of more than 400 European dealers. The Aixam brand offers a range of diesel and electric passenger vehicles, including light cars, SUVs and sports vehicles. The Mega brand offers electric and diesel-powered light commercial vehicles.
“We are very pleased with today’s announcement and the opportunity to work with an international leader like Polaris,” said Philippe Colançon, Business Unit President of Aixam Mega. “Joining forces with Polaris gives us the technology, expertise and resources to continue investing in our business while accelerating our profitable growth through a new, broader customer base. We look forward not only to what we can learn from Polaris, but also what we can bring to Polaris with our know-how.”
Neither Polaris nor Aixam are disclosing details of the terms of the transaction; however, it is funded from Polaris cash holdings. However, the Aixam acquisition is expected to have a modestly positive impact on Polaris stock earnings in 2013 after acquisition costs.
The American manufacturer based in Medina / Minnesota, USA, generated sales of around 2.45 billion euros in 2012. Polaris’ responsibilities include the development, design, manufacture and marketing of innovative, high-quality off-road vehicles, primarily ATVs, UTVs and side-by-side vehicles, but also snowmobiles, motorcycles and electric/hybrid operated vehicles for road traffic. x
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Contact: > Polaris Germany
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