SAN FRANCISCO | January 5, 2022 – Waev Inc., a management group, has acquired the GEM and Taylor-Dunn companies from Polaris Inc. through a management buyout completed on December 31, 2021.
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Founded by five former leaders of Polaris' commercial division, Waev plans to strategically position these two brands at the forefront of the business. Drake Star acted as Polaris' financial advisor for the transaction.
The founding Waev management team includes experienced Polaris leaders: Keith Simon, Paul Vitrano, Cosmin Batrin, Jon Conlon, and Luke Mulvaney. With extensive experience in the industry, especially with these brands, the Waev team is ready to lead GEM and Taylor-Dunn into a new phase. Under this group’s continued leadership, the business will be optimized for growth and refocused on serving GEM and Taylor-Dunn’s customers, dealers, and partners.
"Waev's ownership of GEM and Taylor-Dunn marks an exciting new era in the history of these brands.
We are revitalizing this business, creating opportunities for future growth,” said Keith Simon, President and CEO of Waev. “The growing demand for electric vehicles and advancements in EV technology open new opportunities for GEM and Taylor-Dunn in various applications and markets that we will invest in for the long term.”
GEM and Taylor-Dunn hold unique positions in their urban and industrial mobility sectors, and their product lines will continue to exist as brands owned by Waev.