Polaris acquired A.M. Holding S.A.S., which operates under the name Aixam Mega S.A.S., a which manufactures and sells enclosed on-road quadricycles and light duty commercial vehicles in Europe.
Aixam Mega S.A.S. was a privately owned company based in Aix-les-Bains, France.
The acquisition of Aixam Mega significantly strengthens Polaris’ existing small vehicle portfolio, which includes GEM and Goupil vehicles, and enhances the profitability and growth potential of Polaris in the EMEA region.
“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,” said Scott Wine, Polaris Chairman and CEO.
Aixam Mega designs, manufactures and sells both passenger and light duty commercial quadricycles under the Aixam and Mega brands. Aixam Mega’s quadricycles are four-wheeled, on-road enclosed vehicles characterized by their light weight, low speed and ability, in many countries, to be operated without a full automobile driver’s license. Founded in 1983, the company has a history of strong financial performance and profitable growth, achieving approximately $110 (US) million in sales in 2012 through a distribution network of more than 400 European dealers. The Aixam brand offers a range of diesel-fueled and electric passenger quadricycles including sedan, SUV and sport styles. The Mega brand offers electric and diesel-fueled light duty commercial vehicles.
"Joining Polaris provides us with technology, expertise and resources to make continued investments in our business, while accelerating profitable growth through new customer opportunities,”said Philippe Colançon, Aixam Mega business unit President.
Terms of the transaction were not disclosed; however, the transaction will be funded through the use of Polaris’ cash on hand. The transaction is expected to be slightly accretive to Polaris’ earnings per share in 2013 after acquisition costs.