Polaris Acquires Pro Armor
- Updated: November 12, 2014
Polaris Industries Inc. (NYSE: PII) today announced the acquisition of certain assets of LSI Products Inc. and Armor Holdings, LLC, privately-held Riverside, Calif.-based companies that design, develop, manufacture, source, sell and distribute accessories for performance side-by-side vehicles and ATV markets under the Pro Armor brand. This acquisition adds Pro Armor to Polaris’ growing parts, garments and accessories (PG&A) business. The terms of the transaction were not disclosed.
“The acquisition of Pro Armor adds another industry-leading brand to our growing stable of PG&A aftermarket brands, a key contributor to Polaris’ growth and profitability,” said Steve Eastman, Polaris’ vice president of PG&A. “Pro Armor is a leading brand in performance side-by-side accessories with a relentless commitment to innovation, style, performance and quality. The addition of Pro Armor to Polaris’ aftermarket brand portfolio allows us to extend our channel and customer reach in the performance side-by-side and ATV markets. Our common culture and shared passion for the Powersports industry and consumer will create an exciting platform for continued innovation and accelerated growth.”
Pro Armor will continue to operate as a distinct brand and the operations will remain in Riverside. Both Polaris and Pro Armor will continue to develop independent product plans while leveraging development, sourcing and distribution capabilities.
“Both Pro Armor and Polaris are driven by a high degree of passion and determination to develop the best customer-focused product solutions in the industry,” said Alex Danze, President and CEO, Pro Armor. “Pro Armor’s success is built on an intimate understanding of the rider and we look forward to becoming a part of the Polaris family where we can take our market leadership and customer relationships to the next level.”
Photos of select Pro Armor products and a slide summarizing Pro Armor’s business and its fit with Polaris are available here: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50982970&lang=e
