Polaris acquires European quadricycle manufacturer
Polaris Industries announced Thursday morning that it has acquired A.M. Holding S.A.S., which operates under the name Aixam Mega S.A.S. The company, based in Aix-les-Bains, France, manufactures and sells enclosed on-road quadricycles and light-duty commercial vehicles in Europe.
The company’s enclosed quadricycles are lightweight four-wheeled vehicles that operate at low speeds. In many countries, they can be driven without a full automobile driver’s license. Under the Aixam brand, the company produces diesel-fueled and electric passenger vehicles in sedan, SUV and sport styles. With Mega, the company offers diesel-fueled and electric light-duty commercial vehicles.
“Aixam Mega is an excellent fit with Polaris and offers a unique opportunity for us to expand our small vehicle platform and accelerate international growth,” Polaris chairman and CEO Scott Wine said. “We are committed to positioning Polaris as a global leader in the growing small vehicle market and this investment reaffirms Polaris’ commitment to building a global business capable of delivering long-term, profitable growth. Consistent with our recently announced plan to build a new manufacturing facility in Opole, Poland, the Aixam Mega business acquisition is indicative of our confidence in EMEA to be a contributor to Polaris’ pursuit of productivity, innovation and growth.”
Aixam Mega was founded in 1983. In 2012, the company reached about $110 million (U.S.) in sales through its network of more than 400 European dealers.
“We’re excited about today’s announcement and the opportunity to work with a leading global company like Polaris,” said Philippe Colançon, Aixam Mega business unit president. “Joining Polaris provides us with technology, expertise and resources to make continued investments in our business, while accelerating profitable growth through new customer opportunities. We look forward not only to what we can learn from Polaris, but what we can contribute to Polaris through our expertise and experience.”
The terms of the deal were not disclosed, however Polaris revealed that the company funded the acquisition using cash on hand.