Polaris Industries, makers of off-road vehicles, snow mobiles and motocycles, has acquired Timbersled Products. a privately held Sandpoint, Idaho-based company which is a market leader in the burgeoning snow bike industry.
The exact terms of the deal were not released but Timbersled will continue to operate as a distinct brand and the operations will remain near Sandpoint, Idaho.
“We are excited to add the Timbersled brand and team to Polaris’ strong snowmobile business. Timbersled has created a compelling product and revolutionized the sport of snow biking, and we are excited to see what they can accomplish with access to Polaris’ considerable engineering, manufacturing and distribution capabilities,” said Scott Wine, Polaris Chairman & CEO.
“Their Mountain Horse is the unequivocal choice of snow bike enthusiasts, emphasizing Timbersled’s relentless commitment to innovation, performance and quality. Our common culture and shared passion for the Powersports industry and consumer will create an exciting platform for continued innovation and accelerated growth.”
Polaris is a recognized leader in the powersports industry with annual 2014 sales of $4.5 billion, multiple different vehicle platforms and brands including the Polaris RANGER and RZR.
First-quarter revenue for Polaris was announced this week and climbed 16% year over year, to $1.033bn, a new company record, including North American retail sales growth of 8%. Operating income climbed 19%, to $150.3m, and net income rose 9%, to $88.6 million with shares rising 4% on the news.
“Timbersled is excited to be a part of the Polaris family. Our shared commitment to delivering exceptional performance to riders and history of innovation make this a great fit,” said Allen Mangum, President, Timbersled.
“Timbersled’s success is built on a passion for delivering exciting products. We look forward to working with Polaris to take our product, customer relationships and the sport to the next level.”