Polaris Industries has announced a deal to acquire the outstanding share in one of its supply chain partners - WSI Industries of Monticello, Minnesota.
The deal values WSI at around $23.9m; WSI reported net sales of $25.9m for the first three quarters of its fiscal year ending August 26, 2018, 78 percent of which were sales to Polaris.
Commenting on the acquisition, Ken Pucel, Executive Vice President of Operations, Engineering & Lean at Polaris, said: “WSI Industries has long been a key supplier to Polaris. By bringing precision machining capability in-house, the acquisition of WSI Industries supports our long-term supply chain strategy and is an exciting value creation opportunity for Polaris. We look forward to welcoming the WSI employees to the Polaris team.”
Polaris will manage WSI Industries as a distinct operation reporting into Pucel’s Global Operations organization and will maintain its facility in Monticello, Minnesota.
WSI is described as a “leading contract manufacturer that specializes in the machining of complex, high-precision parts for a wide range of industries, including automotive, avionics and aerospace, energy, recreational vehicles, small engines, bioscience and the defense markets.”