- Polaris Industries (NYSE:PII) will acquire all outstanding common stock of WSI Industries (WSCI) for $7.00 per share in cash, enterprise value of ~$23.9M.
- The merger is expected to close in Q4.
- Commenting on the acquisition, Ken Pucel, executive vice president of Operations, Engineering & Lean at Polaris, said: “WSI Industries has long been a key supplier of 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.