Arctic Cat
 |
|
| Public | |
| Traded as | NASDAQ: ACAT |
| Industry | Automotive |
| Headquarters | Minneapolis, Minnesota, United States |
|
Key people
|
Founder: Edgar Hetteen Former CEO:Christopher Twomey, Current CEO:Christopher T. Metz, Roger Skime |
| Products | Land vehicles (ATVs, Snowmobiles) |
| Revenue |
 US$585.27 million (FY 2012) |
|
US$45.89 million (FY 2012) |
|
|
US$29.94 million (FY 2012) |
|
| Total assets |
 US$255.42 million (FY 2012) |
| Total equity |
US$138.47 Million (FY 2012) |
|
Number of employees
|
1,369 (March 2012) |
| Website | www.arcticcat.com |
Arctic Cat is a North American manufacturer of snowmobiles and all-terrain vehicles. The company was formed in 1960 and was originally based in Thief River Falls, Minnesota. The company designs, engineers, manufactures and markets all-terrain vehicles, snowmobiles, as well as related parts, garments and accessories. Its common stock is traded on the NASDAQ Global Select Market under the ticker symbol “ACAT”.
Arctic Cat was formed by snowmobile pioneer Edgar Hetteen in 1960 due to his departure from his previous self-started business, Polaris Industries. Like Polaris, Arctic Cat grew to become a major manufacturer of snowmobiles, watercraft, and all-terrain vehicles (ATV's). The company's first name was Polar Manufacturing but was soon changed to Arctic Enterprises. The company made their first snowmobile in 1960 and in 1970, started the Boss Cat line. Various boat manufacturers, including Silver Line, Lund and Spirit Marine, were bought to attempt to expand the company. However, Arctic Cat went bankrupt in 1982. Two years later, a new company Arctco was created to continue the production of Arctic Cat snowmobiles. The company was successful in keeping the Arctic Cat alive and in 1996 the company changed its name to Arctic Cat. The company continues to make snowmobiles as well as all-terrain vehicles and side-by-sides. Over the years, the company has attempted many other product lines including snowblowers, generators, mini bikes, and two-wheel drive vehicles. Arctic Cat relocated its headquarters, certain corporate executives, general managers, and sales and marketing personnel to Plymouth MN from Thief River Falls in 2007. In 2016, the headquarters was relocated again to a more prominent location in downtown Minneapolis. Also in 2016, most of the ATV/UTV engineering was moved to St. Cloud, MN, in the same facility that produces the Arctic Cat engines. Arctic Cat continues the majority of their manufacturing, along with snowmobile engineering, in Thief River Falls, Minnesota.
On January 25, 2017 it was announced Arctic Cat will be acquired by Textron in for $247M in a cash transaction.
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Wikipedia