US powersports manufacturer Polaris, which now has interests extending from its original own-brand ATV and snowmobile ranges through to Victory and Indian motorcycles as well Guopil and GEM electric vehicles, has bought the Aixam Mega quadricycle concern for a undisclosed sum.
Aixam, based in Aix-lex-Bains, France, primarily takes advantage of European Union regulations which allow low-powered “quadricycle” light cars and commercial vehicles to be driven on motorcycle licences. Last year, the company reportedly achieved sales of about £72m. Its products are distributed in the UK through a subsidiary based at Rugby in Warwickshire. Polaris plans to incorporate Aixam within its existing on-road vehicle division currently covering the Goupil, GEM, Victory and Indian brands.
Commenting on the deal, Polaris chairman and chief executive Scott Wine said: “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. We are committed to positioning Polaris as a global leader in the growing small-vehicle market. 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 [Europe, Middle East & Africa] to be a contributor to Polaris’ pursuit of productivity, innovation and growth.”
Wine predicts that small electric and electric-hybid vehicles should add about £650m to his company’s annual turnover by 2018. Polaris sales revenue reached more than £2bn in the past year.
Aixam Mega president Philippe Colançon added: “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.”