Polaris Industries, Inc. has purchased Aixam Mega, a privately owned French company that makes low-speed cars and light-duty commercial vehicles, Twin Cities Business reports. Terms of the cash deal were not disclosed.
“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,” Scott Wine, Polaris Chairman and CEO, said in a news release. “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."
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, Aixam Mega had approximately $110 million in sales last year through a distribution network of more than 400 European dealers.
The Medina, Minn., based maker of all-terrain vehicles and motorcycles also teamed up with Bobcat to develop a new line of commercial utility vehicles, called Brutus.