- BRP Inc. (DOO) has agreed to acquire an 80 per cent interest in Germany-based Pinion GmbH
- BRP manufactures Ski-doo, Se-doo, and other major power-sport brands
- Pinion develops gearboxes of traditional and electric bicycles
- The company recently also acquired Great Wall Motor Austria BmbH to help further its market expansion strategy
- BRP Inc. (DOO) is up 1.07 per cent and is trading at $95.63 per share as of 12:16 p.m. ET
BRP (DOO) has agreed to acquire an 80 per cent interest in Pinion GmbH, a gearbox technology company based in Germany.
BRP is a Canadian manufacturer of snowmobiles, all-terrain vehicles, motorcycles, and personal watercraft vehicles such as Ski-doo, Sea-doo, and other major power-sport brands. Pinion designs develops, assembles, and sells mechanical gearboxes for traditional and electric bicycles modelled after automobile transmission technology.
“Beyond our existing powersports and marine products, we are expanding our addressable market and entering untapped categories such as urban mobility and services… strategic for us as it enables BRP to leverage Pinon’s unique, state-of-the-art technology in order to spur the development of new electric human assisted products,” José Boisjoli, President and CEO of BRP, said.
Christoph Lermen, Michael Schmitz, and Thomas Raith will continue to stay on board of Pinion’s leadership team to help direct the company and offices will remain in Germany.
“BRP’s culture of relentless innovation and focus on R&D mirrors our own… Together, we will continue providing class-leading Pinion gearbox technology to our 100+ valued bicycle manufacturers while at the same time expanding our offering and developing next-generation drive solutions,” Christoph Lermen, Co-Founder and Managing Director of Pinion, said.
BRP stated this acquisition is part of its strategy to expand its market following the acquisition of Great Wall Motor Austria GmbH, an electric research and development centre based in Kottingbrunn, Austria, specializing in e-drive systems and transmissions.
BRP Inc. (DOO) is up 1.07 per cent and is trading at $95.63 per share as of 12:16 p.m. ET.