by Joseph P. Tartaro | Executive Editor
Barrett donates rifle to every Tennessee sheriff’s office
At the Tennessee Sheriffs’ Association Annual Conference & Exhibition on Aug. 8, Barrett Firearms President Chris Barrett, left, shown photographed with Robertson County Sheriff Bill Holt, announced that his company is donating 95 Barrett REC7 DI rifles, one to each Tennessee county sheriff’s office or department. “When the Barrett story is told, folks usually talk about the civilian shooters and militaries around the world that have chosen Barrett long-range precision rifles for more than three decades. Less-often mentioned is my father’s background as a county sheriff’s deputy, our 5.56 carbines and rifles, and the countless law enforcement agencies that choose Barrett. We want to highlight that legacy and show our strong support for law enforcement by donating these Barrett REC7 DI rifles to the sheriffs in our state,” Barrett said during remarks at the conference.
On July 25, Smith & Wesson Holding Corporation (SWHC) announced that it had signed a definitive agreement to acquire Crimson Trace Corporation, the industry leader in laser sighting systems and tactical lighting for firearms, for $95 million, subject to certain adjustments, utilizing cash on hand.
Then, on Aug. 1, the company announced that BTI Tools LLC, a wholly owned subsidiary of Smith & Wesson’s Accessories Division, Battenfeld Technologies, Inc., had completed the purchase of substantially all of the assets of Taylor Brands, LLC, a designer and distributor of high quality knives and specialty tools, for $85 million, subject to post-closing adjustments, utilizing cash on hand.
Based in Columbia, Missouri, Battenfeld Technologies develops and sells shooting, reloading, gunsmithing, and gun cleaning supplies under several popular, premium brands, including Caldwell® Shooting Supplies, Wheeler® Engineering, Tipton® Gun Cleaning Supplies, and Lockdown® Vault Accessories.
Like Taylor Brands with cutlery and tools, Crimson Trace has long been a key supplier for Smith & Wesson of laser sighting systems.
For more than two decades, Crimson Trace has provided consumers, military units, and law enforcement officers around the globe with what is believed to be 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, OR, 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.
Of the latest acquisition, James Debney, Smith & Wesson president and CEO, 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 CEO 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.”
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 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.”
Among Smith & Wesson’s firearms division brands are Smith & Wesson®, M&P®, and Thompson/Center Arms™. As a leading provider of shooting, hunting, and outdoor accessories, including reloading, gunsmithing, gun cleaning supplies, tree saws, and vault accessories, the company’s accessories division produces innovative, high-quality products under several brands, including Caldwell® Shooting Supplies, Wheeler® Engineering, Tipton® Gun Cleaning Supplies, Frankford Arsenal® Reloading Tools, Lockdown® Vault Accessories, Hooyman® Premium Tree Saws, BOG POD®, and Golden Rod® Moisture Control. The company’s manufacturing services division also provides forging, machining, and precision plastic service for outside businesses. Smith & Wesson facilities are located in Massachusetts, Maine, Connecticut, and Missouri.
Taylor Brands has been a long-standing licensee for both Smith & Wesson and M&P branded knives and is the direct owner of a number of highly-regarded, legacy brands including Schrade, Uncle Henry, Old Timer, and Imperial. Based in Kingsport, TN, Taylor Brands operates from a 160,000 square foot facility.
Morgan Taylor, president of Taylor Brands, said, “We are proud that the company my family founded in 1975 has grown to become a leading and highly regarded knife and tool provider. We look forward to achieving our next level of growth and continuing to serve our loyal customers as part of Smith & Wesson and with the benefit of Battenfeld Technologies’ extensive distribution network and product development processes.”
SIG product serialization
Sig Sauer Inc. announced on July 22 that all new serialized firearm models and silencers will soon feature a new identification mark registering the manufacturing location as “Made in Newington, NH.” This change in registration from the formally marked “Exeter, NH” reinforces the company’s commitment to serving as the foremost complete weapon system provider as it continues to design, engineer and manufacture a complete line of firearms and silencers at its state-of-the-art facility in Newington.
In 2014, Sig Sauer invested more than $18 million to develop a new corporate headquarters at Pease International Tradeport in Newington. Encompassing 206,000 square feet, the leading edge manufacturing plant includes quality control testing facilities, a multi-position test-fire range, and a modern workspace designed from the ground up for efficiency and maximum capacity.
