Smith & Wesson announced Tuesday that the company has “signed a definitive agreement to acquire Crimson Trace Corporation.”
The deal is for $95 million, according to a Smith & Wesson press release.
Crimson Trace was founded 22 years ago and has organically generated a 10-year compound annual revenue growth rate in excess of 10 percent. 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 retailerOptics Planet, Inc.
“As the undisputed leader in the market for laser sighting products, Crimson Trace serves as an ideal platform for our new Electro-Optics Division,” said James Debney, Smith & Wesson’s President and Chief Executive Officer. “Firearms purchasers frequently buy electro-optic accessories to enhance the capabilities and performance of their firearms.”
“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,” said Crimson Trace’s Lane Tobiassen, who will serve as President of the new Electro-Optics Division of Smith & Wesson.
To read the entire press release on the acquisition, please visit ir.smith-wesson.com.