Club Car acquires Denmark-based electric vehicle manufacturer

Club Car signed an agreement to acquire Garia A/S, a Denmark-based manufacturer of electric low-speed vehicles for the utility, consumer and golf markets, from Lars Larsen Group. Financial terms were not disclosed. The transaction is expected to close in the second quarter. 

Founded in 2005, Baria is best known as an innovator of luxury golf and leisure cars that feature elevated performance and distinctive Scandanavian design. The company launched Garia Utility in 2015, a growing line of compact vehicles for utility applications, including: public sector (municipalities, hospitals, universities, parks), facility management (industrial sites, hotels, resorts), leisure and outdoor (zoos, amusement parks, forestry and agriculture), and last-mile delivery (mail, packages, food delivery). 

The acquisition also includes Melex, which Garia acquired in November 2021 to accelerate its growth in the utility space. 

Garia’s golf and consumer cars are primarily luxury products geared toward the high end of their respective markets. Garia and Melex’s utility products are mostly model types that Club Car doesn’t currently manufacture. 

Club Car is a portfolio company of Platinum Equity, which acquired the business in 2021. The Garia and Melex transaction is Club Car’s first add-on acquisition under Platinum Equity’s ownership. 

“A big part of our ambition for Club Car is to expand its addressable market geographically and into new product categories,” said Matthew Louie, managing director of Platinum Equity. “This acquisition is an important step in delivering on that strategy. We will continue seeking more opportunities to grow the business organically and through additional acquisitions.”

Add new comment

If you enjoyed this article and would like to sign up for a FREE digital subscription, click here!