Mission Spec released a very cool time lapse video of one of their EOC plate carriers being created from start to finish. For those of you who appreciate the craftsmanship that goes into custom tactical gear, this will be a very intriguing video to watch. For those of you who think everything is overpriced, this video might fuel your delusion that this gear can be made in minutes and should cost whatever arbitrary dollar amount you deem as cheap.
Breaking: Smith & Wesson to Acquire Crimson Trace Corporation
From Crimson Trace:
SPRINGFIELD, Mass., July 25, 2016 — Smith & Wesson Holding Corporation (NASDAQ Global Select: SWHC), a leading manufacturer of firearms and a provider of quality accessory products for the shooting, hunting, and rugged outdoor enthusiast, today announced that it has signed a definitive agreement to acquire Crimson Trace Corporation (Crimson Trace), the industry leader in laser sighting systems and tactical lighting for firearms, for $95.0 million, subject to certain adjustments, utilizing cash on hand.
Crimson Trace has long been a key supplier of laser sighting systems for Smith & Wesson. For more than two decades, Crimson Trace has provided consumers, military units, and law enforcement officers around the globe with the world’s largest selection of award-winning laser sight and tactical light products. Crimson Trace offers more than 225 products and is widely recognized as the world’s leading brand of laser sights for firearms. Its award-winning innovations include the Lasergrips®, Laserguard®, and Rail Master® platforms. The company’s product line also includes the Defender Series®, Lightguard®, and its new LiNQ™ wireless activation system. Based in Wilsonville, Oregon, Crimson Trace operates from a 50,000 square foot , leased facility where it engineers and manufactures its products.
Crimson Trace was founded 22 years ago and has organically generated a ten year compound annual revenue growth rate in excess of 10%. The company maintains a product development team that has an established track record of launching high-quality, innovative laser sighting products. As a result, its products maintain a premium position with hundreds of independent retailers as well as large sporting goods retailers, including Cabela’s, MidwayUSA, Nation’s Best Sports, and internet retailer Optics Planet, Inc.
James Debney, Smith & Wesson President and Chief Executive Officer, said, “Crimson Trace provides us with an exceptional opportunity to acquire a thriving company that is completely aligned with our strategy to become a leader in the market for shooting, hunting, and rugged outdoor enthusiasts. As the undisputed leader in the market for laser sighting products, Crimson Trace serves as an ideal platform for our new Electro-Optics Division. Firearms purchasers frequently buy electro-optic accessories to enhance the capabilities and performance of their firearms. The growth that Crimson Trace has delivered is a testament to the high product quality and the robust product development capability that Lane Tobiassen, President and Chief Executive Officer of Crimson Trace, and his team have established. That capability, combined with Crimson Trace’s leadership position in the market for laser sights, provides a solid framework for organic and inorganic growth.”
Lane Tobiassen, who joined Crimson Trace in 2005, will serve as President of the new Electro-Optics Division of Smith & Wesson, and will report directly to Debney. The Crimson Trace management team and workforce, as well as its base of operations, will remain in Wilsonville, Oregon after the acquisition.
Tobiassen said, “It is a great honor to lead Crimson Trace into this exciting new chapter in our history by joining the Smith & Wesson team. Since 1994, we have designed and brought to market more than 225 products, all of which reflect the passion, dedication, and spirit of innovation of our design engineers, production workforce, customer service representatives, and marketing and sales professionals. As the new Electro-Optics Division of Smith & Wesson, we believe that our capabilities, combined with inorganic opportunities to acquire related technologies, will expand the reach of our existing market footprint. This makes us a great fit for Smith & Wesson, a legendary company with an iconic brand, world-class products, and markets that include consumer, law enforcement, and international channels. We look forward to offering consumers exceptional performance from two of the industry’s most trusted names.”
Smith & Wesson will purchase all of the outstanding stock of Crimson Trace for $95.0 million, using existing cash balances. Crimson Trace is being acquired from Crimson Trace Holdings, LLC, which is owned by private equity firms Peninsula Capital Partners, LLC and VergePointe Capital, LLC; Lewis Danielson, the founder and Chairman of the Board of Crimson Trace; a small group of minority members; and certain members of management.
Jeffrey D. Buchanan, Executive Vice President and Chief Financial Officer of Smith & Wesson, stated, “As a result of our strong balance sheet, we intend to complete the purchase of Crimson Trace with cash on hand and we expect the transaction to close in three to six weeks. After the closing date, we expect the acquisition to be accretive to Smith & Wesson’s earnings per share in fiscal 2017. Due to its anticipated timing, the transaction is expected to have no impact on Smith & Wesson’s operational and financial results for the fiscal 2017 first quarter ending July 31, 2016. As of the date of signing, Crimson Trace’s trailing 12 month revenue was approximately $44.0 million, of which approximately 25% was revenue from Smith & Wesson and would be excluded from our consolidated revenue. The purchase price represents an estimated multiple of approximately 5.9x the trailing 12 month adjusted EBITDAS of Crimson Trace. We look forward to providing additional details following the close of the transaction.”
Cowen and Company, LLC is acting as exclusive financial advisor and Greenberg Traurig, LLP is acting as legal advisor to Smith & Wesson and its Board of Directors. Robert W. Baird & Co. is acting as exclusive financial advisor and K&L Gates LLP is acting as legal advisor to Crimson Trace and its owners.
Tease: New AK Hand Guards from Midwest Industries
Midwest Industries is about to drop a selection of extended AK hand guards onto the market. Extended hand guards can make a lot of sense on AKs since the standard hand guard length may leave little room for mounting items like lights and slings. The extended hand guard may also allow items like vertical grips to be mounted further forward where they will have less impact on the ability to rock a magazine into the magazine well.
The hand guards will be available with either KeyMod or M-LOK compatible attachment slots. They also appear to mount without having to remove the standard hand guard retainer. In keeping with previous AK hand guards, these also seem to have optic specific upper hand guard mount options.
Stay tuned for additional details.
The Little Things: L.A.G. Tactical Defender
How do you set yourself apart from your competition? Pay attention to the little things. I am fascinated by the small details that designers build into their products. Often, these features are so subtle that you may never notice them in an overt way but they are there none the less, improving functionality and setting apart one product from another.
L.A.G. Tactical’s Defender Holster has a small, barely noticeable feature that can go a long way toward keeping your magazine in the gun where it belongs – especially on models with ambidextrous magazine release buttons like the Sig P320. They contour the edge of the holster very subtly to cover the magazine button. If they covered it entirely, the holster could prevent a firm firing grip from being established during the draw. Instead, they cover it just enough to protect the button.
34mm Ultralight Scope Mounts from Aero Precision
Optics with 34mm tubes are becoming more common but the selection of mounts compatible with them is still somewhat limited. Aero Precision has released new 34mm version of their excellent Ultralight Scope Mounts. These 6061 T6 aluminum mounts are their regular extended format and their SPR format which has 2″ of forward extension for optics with longer eye relief. They are also available in black or Flat Dark Earth.
Check out the 34mm Ultralight Scope Mounts at Aero Precision.
