Polaris Industries Inc. (NYSE: PII) announced the acquisition of 509, an aftermarket leader in snowmobile helmets and goggles. 509, a privately owned company based in Spokane, Wash., joins Polaris’ growing portfolio of aftermarket apparel and accessories brands, which includes Klim®, Kolpin®, and Pro-Armor®. The terms of the transaction were not disclosed.
“We are always exploring opportunities to make Polaris a stronger, more competitive global company. As we look toward the future, parts, garments and accessories will continue to be a growth driver for Polaris,” said Steve Eastman, President of Parts, Garments and Accessories for Polaris. “509 is a growing brand that resonates with snowmobile enthusiasts and complements our current portfolio. As snowmobile enthusiasts ourselves – and having worked with 509 on co-branded goggles for three years – we like their products, we like their brand, and we like their team.”
509 will continue to operate as a distinct brand under the leadership of Tom Delanoy, founder of 509, who will continue in his role of President. Operations will remain headquartered in Spokane. 509 was advised by The Meriwether Group.
“The 509 brand was created from an authentic and passionate love of snowmobiling,” said Tom Delanoy, 509 founder and CEO. “We have a passion for making highly technical riding gear and producing award-winning films and media content that truly captures the amazing experience of snowmobiling. 509 is very excited to be a part of the Polaris family. Sharing the same passion and vision with the company that mass produced the first snowmobile six decades ago is truly a great fit for us. We look forward to banding together and building an exciting future for the 509 brand.”