Smith & Wesson to Acquire Crimson Trace
Smith & Wesson Holding Corporation, 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. Continue reading
Man Who Stole 111 Firearms from Smith & Wesson Factory Sentenced to More Than 17 Years in Prison
Deirdre M. Daly, United States Attorney for the District of Connecticut, and Daniel J. Kumor, Special Agent in Charge of the ATF Boston Field Division, announced that Elliot Perez, 30, of Bridgeport, was sentenced today by U.S. District Judge Alvin W. Thompson in Hartford to 210 months of imprisonment, followed by three years of supervised release, for stealing 111 firearms from the Smith & Wesson manufacturing plant in Springfield, Mass, and selling many of those firearms on the street.
“This defendant not only stole more than 100 firearms, but he quickly sold dozens of them on the street putting them directly into the hands of criminals,” said U.S. Attorney Daly. “Not only are the stolen guns now turning up in criminal investigations as far away as North Carolina, but one was used in a Bridgeport murder and another in a shooting at a Hartford night club. As more than 50 of these guns are still at large, there is no telling how many additional acts of violence will stem from this offense. These sobering facts make clear that this long prison term is fair and appropriate. We thank the Stratford and Bridgeport Police Departments for their excellent work in quickly arresting these defendants, and the ATF for their investigative work and ongoing efforts to identify and recover the missing firearms.”
“The theft of over 100 guns is a serious threat to public safety and this sentence sends the message that it will not be tolerated, said ATF Special Agent in Charge Kumor. “Firearms trafficking continues to be a top priority for ATF and our law enforcement partners and we are committed to identifying and disrupting the sources of illegal firearms, which jeopardize the safety of our communities.”
According to court documents and statements made in court, on November 8, 2012, Perez, a truck driver for Pace Motor Lines, picked up five boxes of firearms from the Continue reading
