Royal Enfield acquires Harris Performance
The Subsidiary company of Eicher Motors – Royal Enfield has acquired a UK based motorcycle design and Engineering firm, Harris performance for an undisclosed sum. Royal Enfield and Harris Performance have had a long-term relationship each other, where the latter company was responsible for manufacturing chassis for the Royal Enfield’s iconic Continental GT cafe racer.
Mr Siddhartha Lal who is the CEO of Royal Enfield, provided an explanation for the rationale involved in the acquisition of Harris Performance said,
Royal Enfield is working on its new generation of products and platforms; to have the Harris Performance team dedicatedly working with us will clearly enhance our engineering and product design capabilities.
Harris Performance was established 40 years ago by brothers named Steve, Lester Harris and Stephen Bayford. The chassis expert, Harris Performance is one among the leading experts in designing and manufacturing of high performance specialised motorcycle components and chasis.
According the acquisition terms, Eicher Motor’s Royal Enfield would acquire the entire company including assets, employees, trade names, technical know-how and every intellectual property which belongs to Harris Performance Products Ltd.
Mr Siddhartha Lal, who is the CEO of Royal Enfield also added,
Their (Harris Performance) proven expertise, deep insight and understanding of motorcycling and Royal Enfield will be invaluable for us in our journey towards achieving leadership in the global mid-sized motorcycling segment
Alongside successful relationships with the Royal Enfield brand, Harris Performance has been the only manufacturer from UK to have been officially commissioned by Yamaha and Suzuki to design, develop and manufacture race bikes for Grand Prix and World Superbike.
Harris Performance has also been the only UK manufacturer to be officially commissioned by other motorcycle giants like Yamaha and Suzuki to seek help in design, development and manufacture race bikes for Grand Prix as well.
The existing staff at Harris Performance would become employees of Royal Enfield and they would be also responsible for the performance and development engineering for Enfield’s new range of motorcycles.
Royal Enfield did not disclose the value of the deal.
Source: Economic Times