MINNEAPOLIS (Oct. 12, 2016) — Off-road vehicle maker Polaris Industries Inc. has struck a deal to buy Transamerican Auto Parts Co. (TAP), a producer, wholesaler and retailer of accessories for the off-road market whose holdings include Pro Comp Tires and 4 Wheel Parts.
Minneapolis-based Polaris is offering $665 million for privately held Transamerican, which reported sales of approximately $740 million for the year ended Sept. 30. The transaction is subject to regulatory approval and other customary closing conditions and is expected to close by year-end 2016, the companies said.
Following the closing, TAP will operate as a distinct business unit reporting to Steve Eastman, president of Polaris' parts, garments and accessories business. The company said it expects to fund the acquisition with borrowings under existing credit facilities.