The Smith & Wesson Holding Company recently in a rather quiet transaction agreed to purchase Crimson Trace for a reported price of $95 Million dollars. The company was previously owned by jointly by Peninsula Capital Partners LLC, and VergePointe Capital LLC. The deal was leaked this past July in a short press released and was expected to be finished by September 2016, but as of the writing of this article we could not say with certainty that the deal was complete. The reported deal was to for cold hard cash, $95,000,000.00
Crimson Trace is headquartered in Wilsonville, Oregon and is housed in a 50,000 square foot warehouse. The company started 22 years ago and has grown into one of the firearms industry’s most trusted brand of laser grips and mounts. The company makes laser grips and sights that fit more than 22 different firearms and have released 225 different products since 1994.
The expected head of the new Smith & Wesson, Electro-Optics Division (where Crimson Trace and S&W Optics will fall under in the company hierarchy) will be the former CEO of Crimson Trace, Lane Tobiassen. He had been with Crimson Trace since 2005 and was clearly respected enough by Smith & Wesson to be placed in charge of the new division in the company. This latest acquisition by Smith & Wesson continues to expand their corporate portfolio, which includes the parent company Smith & Wesson Firearms,Thompson/Center Arms, as well as a long list of companies that produce cleaning products and accessories for the firearms industry. Caldwell Shooting Supplies, Wheeler Engineering, and Frankfort Arsenal are a few of the other more well recognizable company names that also fall under the expanding Smith & Wesson empire. We will work to confirm the closing of the deal while we are at SHOT Show 2017, this coming January in Las Vegas.
For the full details of the deal visit the original story link at WWW.PEHUB.COM
(Feature Photo Courtesy: CrimsonTrace.Com)