Protonex Technology Corp

Posts Tagged ‘Vista Outdoors’

Weaver Introduces Premium MSR Mount

Saturday, July 15th, 2017

MSR_Mount_Standard1_jpg -LG

OVERLAND PARK, Kansas (July 12, 2017) – Weaver, an industry leader in high-performance optics and mounting systems for more than 80 years, continues its quest to produce the best mounting solutions on the market by introducing the new Premium MSR Mount.

A specialized modern sporting rifle deserves high-quality accessories. The Weaver Premium Modern Sporting Rifle (MSR) Optics Mount is designed specifically for MSR rifles. The Premium MSR Optics Mount lives up to its name, starting with its construction. The anodized Type III hardcoat black matte finish adds further protection and blends in seamlessly with the rifle. The sleek design sets optics at the ideal height, with a forward cantilever for MSR rifles. The edges are slightly radiused to prevent snagging. The Weaver Premium MSR Optics Mount adds an extra layer of durability and performance, but hardly any weight.

SKU DESCRIPTION
Available in 1 inch, 30 mm and 34 mm options, the Premium MSR Mount also features double recoil lugs to lock the mount in place and premium 7075-T6 aircraft-grade aluminum construction. Weighing in at just 6 oz., the mount also offers Torx-head screws with three oversized #25 Torx crossbolts with steel-threaded inserts.

Weaver, a Vista Outdoor brand, has more than 80 years of experience creating the world’s most reliable optics and mounting systems. For more information, visit www.weaveroptics.com.

Vista Outdoors Has Agreed To Acquire CamelBak Brand

Tuesday, July 28th, 2015

Vista Outdoors has agreed to acquire the CamelBak brand from Compass Diversified Holdings for $412.5 million. The full release can be read below:

CLEARFIELD, Utah, July 27, 2015 /PRNewswire/ — Vista Outdoor Inc. (NYSE: VSTO), a leading global designer, manufacturer and marketer in the growing outdoor sports and recreation markets, announced it has entered into a definitive agreement to acquire CamelBak Products, LLC. CamelBak is the leading provider of personal hydration solutions for outdoor, recreation and military use. The company’s products include hydration packs, reusable bottles and individual purification and filtration systems.

The CamelBak acquisition will strengthen and expand Vista Outdoor’s presence in outdoor sports and recreation, with products that complement every outdoor activity where Vista Outdoor’s products are used. The acquisition will provide Vista Outdoor with another highly recognized and well-respected brand that is a preferred partner to leading retailers. The transaction is subject to regulatory approvals and customary closing conditions. Vista Outdoor anticipates closing the transaction within the next month.

“The acquisition of CamelBak greatly advances Vista Outdoor’s strategy to grow and strengthen our leading position in the outdoor recreation industry,” said Mark DeYoung, Vista Outdoor Chairman and Chief Executive Officer. “CamelBak fortifies our presence in the mainstream individual outdoor recreation market, creating an opportunity to increase the scale, reach and growth of several current offerings through an expanded global sourcing capability and a broadened retail distribution network. With limited overlap between our key customers, this acquisition creates significant cross-selling opportunities, increased channel presence and access into expanded domestic and international markets. As a market leader and preferred partner, Vista Outdoor can leverage the technical expertise of CamelBak to deliver innovative solutions and quality product offerings that will create value for our shareholders and customers.”

Under the terms of the transaction, Vista Outdoor will purchase CamelBak for $412.5 million, subject to a customary working capital adjustment, utilizing cash on hand and borrowings under its existing credit facilities. Management expects calendar year 2015 net sales for CamelBak of approximately $160 million. The purchase price includes an approximate net present value of $35 million in future tax benefits associated with the deductibility of intangibles from a prior acquisition of CamelBak. The purchase price, net of the previously mentioned tax asset, represents a resulting effective multiple of approximately 11x CamelBak’s expected calendar year 2015 EBITDA. Vista Outdoor intends to refinance the expected borrowings under its credit facilities with long-term debt financing. Pending such financing, Vista Outdoor has received a commitment to provide $50 million of secured debt financing from Morgan Stanley, which the company does not at this time intend to draw upon, but which provides additional flexibility pending completion of long-term financing. Absent transaction and transition costs, Vista Outdoor expects the acquisition to be accretive to Fiscal Year 2016 (FY16) earnings per share (EPS). Vista Outdoor will provide information relating to CamelBak’s impact on FY16 financial results as part of its first quarter earnings press release and webcast on August 13, 2015.

“CamelBak is enthusiastic about the opportunity to join the Vista Outdoor family of brands,” said Sally McCoy, CamelBak CEO. “Their successful platform will accelerate CamelBak’s growth as a global brand. Vista Outdoor supports our mission to continue to reinvent the way people hydrate and perform through innovative hydration products.”

Founded in 1989 and headquartered in Petaluma, California, CamelBak is the category creator for hands-free hydration and meets the needs of diverse consumers with a comprehensive product portfolio. CamelBak has an expansive network of marquee customers ranging from REI to Target. CamelBak has approximately 300 employees and will be integrated into the Outdoor Products segment of Vista Outdoor, increasing the scale of the business and reinforcing a culture focused on delivering high-quality, technologically advanced products.

CamelBak is a subsidiary company of Compass Diversified Holdings (NYSE: CODI), an owner of leading middle market businesses headquartered in Connecticut.

Morgan Stanley serves as transaction and financial advisor and Cravath, Swaine & Moore LLP serves as legal advisor to Vista Outdoor in connection with the transaction.

www.camelbak.com

www.vistaoutdoor.com