Oct 12 All-terrain vehicle maker Polaris
Industries Inc said on Wednesday it would buy off-road
SUV accessories maker Transamerican Auto Parts Co (TAP) for
about $665 million.
TAP is a leader in the fast-growing $10 billion SUV
accessories market and is known for aftermarket brands such as
Pro Comp, Rubicon Express and Poison Spyder.
The deal will create a leading company in the four-wheel
drive off-road market and extend Polaris's presence in
aftermarket accessories and attract new consumers to its
existing brands, including Polaris Ranger and Sportsman ATVs.
Compton, California-based TAP had sales of $740 million in
the 12 months ended Sept. 30.
Privately owned TAP sells and distributes its products
through multiple channels, including 75 4Wheel Parts stores and
two online platforms.
BofA Merrill Lynch was financial adviser to Polaris, and
Faegre Baker Daniels LLP was its legal adviser.
Jefferies and Houlihan Lokey acted as financial advisers to
TAP, with Sullivan & Cromwell acting as legal adviser.
(Reporting by Shalom Aarons in Bengaluru; Editing by Martina