Polaris announced recently that it has reached an agreement to buy the manufacturer of many of its higher-end shock absorbers for its snowmobiles and off-road vehicles.
The company will purchase California-based Walker Evans Enterprises. Various business-tracking websites report that Walker Evans has about 30 employees and does about $18 million in business annually, according to Snow Goer.
“Co-owners Walker Evans and Randy Anderson have helped shape the off-road industry and built a company that has become recognized for providing performance products,” says Steve Menneto, president of Off-Road, on the acquisition. “When Walker, his wife Phyllis and Randy informed Polaris they would be looking to sell, the decision to purchase the business was an easy choice as it complements our strategy and strengthens supply chain continuity of one of our key off-road and snow shock components.”
Polaris will integrate the Walker Evans business into its Off-Road business, processes and systems. Randy Anderson will join Polaris to help support a seamless transition of the business and continue to drive innovation through the Walker Evans portfolio of products.
The sale is contingent on customary closing conditions and is expected to close before the end of Q3. Terms of the sale are not disclosed.