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Waev Closes Acquisition of GEM and Taylor-Dunn Businesses of Polaris.

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MANews-(C)2009-2022

US-based electric mobility provider Waev Inc. has purchased the GEM and Taylor-Dunn businesses from US-based powersports manufacturer Polaris Inc. (NYSE: PII) in a management buyout completed December 31, 2021, the company said.

Terms of the deal are confidential.

Founded by five former Polaris leaders, Waev will strategically place the GEM and Taylor-Dunn brands at the forefront of the business.

The Waev founding management group includes Simon, Paul Vitrano, Cosmin Batrin, Jon Conlon and Luke Mulvaney.

With extensive experience in the industry and specifically with these businesses, the Waev management team is well-positioned to propel GEM and Taylor-Dunn into this new chapter.

Under the continued leadership of this group, the business will be optimized for growth and refocused around the customers, dealers and partners GEM and Taylor-Dunn serve.

GEM and Taylor-Dunn are uniquely positioned in their urban and industrial mobility industries and the product lines will continue as brands owned by Waev.

When GEM production moved to Anaheim in 2017, it joined Taylor-Dunn manufacturing and established the Southern California-based electric vehicle center of excellence.

This facility will also serve as the headquarters for Waev.

The name Waev represents the team's agility and dedication to providing quality solutions that move people and goods in the world around us.

Just like waves rolling onto shore, motion is at the core of the business and products.

And as waves are a universal greeting, the team welcomes our partners to the family and is committed to better serving our customers. Waev represents an exciting new era in the 70-year legacy of these established brands.

Rooted in campus, community, and urban mobility, GEM is a leader in the low-speed vehicle market.

GEM was the first commercially-produced street-legal, LSV in the US and, for more than 20 years...

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