Club Car Completes Acquisition of Garia
Augusta, Ga (June 1, 2022) – Club Car, a leading manufacturer and global leader in golf, consumer, and utility vehicles, today announced that it has completed the acquisition of Garia A/S (“Garia”) a Denmark-based manufacturer of electric street legal low-speed vehicles for the utility, consumer and golf markets.
The acquisition also includes Melex, which Garia acquired in 2021 to accelerate its growth in the utility space. Melex is a manufacturer of lightweight utility vehicles based in Poland.
“We are incredibly excited that Garia and Melex have joined Club Car. Together, we share a passion for innovation, design, and commitment to our customers,” said Club Car president Mark Wagner.
“We look forward to increasing the global reach of the combined brands. We see the acquisition as an opportunity to mature our go-to-market strategies and tap into new offerings—like street-legal utility and last-mile delivery. “With the most extensive line-up of low-speed electric vehicles in the industry, we anticipate a strong growth trajectory for years to come,” Wagner added.
Both the Garia and Melex businesses will continue to be led by Jakob Holstein. Holstein, who will report to Wagner, said, “Club Car is known for their extensive dealer network. This, combined with their operational expertise and commitment to delivering high-quality products, will take our brands to a new level.”
This acquisition is an important step in delivering on Club Car’s future growth. “We will continue seeking more opportunities to grow the business organically and through additional acquisitions," said Platinum Equity Partner Jacob Kotzubei and Platinum Equity Managing Director Matthew Louie in a joint statement. “We look forward to the combination of these businesses and the great potential this unlocks for us all.”
About Club Car
With over 60 years of experience of innovation and design in producing small-wheel vehicles, Club Car is a leading manufacturer of gas and electric golf, utility and personal transportation vehicles. Founded in 1958, the Club Car product portfolio has grown to include much more than golf cars, now encompassing vehicles for commercial and consumer markets, built with an uncompromised desire for superior performance. As an industry leader in electrification and sustainability, Club Car is proud to be on the forefront of environmentally responsible Zero Emission Vehicle (ZEV) technologies.
About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $36 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners V, a $10 billion global buyout fund, and Platinum Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment opportunities in the lower middle market. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 27 years Platinum Equity has completed more than 350 acquisitions.