B5 Systems

Archive for the ‘Industry’ Category

Tony Tarantino Promoted to Director of Marketing at Riton Optics

Tuesday, February 2nd, 2021

Tucson, AZ (01 February 2021) – Riton Optics is pleased to announce the promotion of Tony Tarantino to the position of Director of Marketing.

Tarantino has been with Riton for nearly two years and has over twenty years in the firearms industry, including extensive experience in retail and law enforcement sales, supply chain and indoor range operations.

Tarantino commented, “It’s an exciting time for Riton Optics. I look forward to growing with such a professional team of goal-oriented individuals.”

According to Brady Speth, CEO and Founder of Riton Optics “During Tony’s short time at Riton, he has been instrumental to the team. I’m confident that his experience and work ethic, blended with his fun, social personality will support the continued growth of the department and the company as a whole.”

As Riton Optics continues to push boundaries, there is no doubt that the company will continue its pace as the fastest growing optics company in the industry.

Beretta Holding Acquires Holland and Holland Ltd

Tuesday, February 2nd, 2021

Beretta Holding is delighted to announce the acquisition of Holland and Holland Ltd. One of the most iconic gunmakers in the World, this company is steeped in history and represents the pinnacle of handmade premium firearms. To become custodians of this famous name is an enormous honor and bears a huge responsibility, as we wish to preserve its precious heritage and dedication to skilled craftsmanship. This acquisition further solidifies the Beretta Holding Group’s commitment to the key UK market in this post Brexit era.

www.hollandandholland.com

INVISIO’s Acquisition of Racal Acoustics Completed, Management Group Expanded

Friday, January 29th, 2021

INVISIO’s acquisition of Racal Acoustics is now completed. This strengthens INVISIO’s position as global market leader in advanced systems for communication and hearing protection for professional users.

The acquisition of Racal Acoustics, which was announced on 22 December 2020, means that INVISIO is broadening its offer with a complementary product category consisting of advanced and robust hearing protection and communications headsets for environments with constant high noise. This type of environment is found for example in large military vehicles and around aircraft.

The acquisition creates several attractive growth opportunities, both through combining Racal Acoustics’ market leading offer with INVISIO’s global sales organization and through giving INVISIO access to customers relevant to the Intercom system.

Racal Acoustics has recently completed a successful restructuring and in 2021 is expected to make a considerable contribution to INVISIO’s continued growth journey, as well as having a positive impact on profits. No material integration costs are expected.

Racal Acoustics, with its 55 employees will constitute the Group’s High Noise Excellence Center and be responsible for developing new solutions specially adapted to challenging environments with constant high noise. Products will continue to be marketed under the Racal Acoustics brand.

INVISIO’s Executive Group Management will be expanded

James Ewing, Managing Director Racal Acoustics, is now a member of INVISIO’s Executive Group Management. James has many years’ international experience from the defense and aviation industries as well as the electronics sector. He has held several executive positions in Esterline Advanced Sensors, within engineering, program management, IT and business development. James reports to INVISIO’s President and CEO.

”We welcome James to the Executive Group Management and look forward to benefiting from his wide experience. He is a natural leader for Racal Acoustics and in a short space of time has implemented a successful restructuring of the company, the results of which we can already see”, says Lars Højgård Hansen, INVISIO’s President and CEO.

BlackBox Biometrics, Inc Proudly Accepts SBA Tibbetts Award for Outstanding Success with the SBIR Program

Friday, January 29th, 2021

Rochester, NY, January 25, 2021 — The US Small Business Association (SBA) recently selected BlackBox Biometrics®, Inc. (B3) to receive the prestigious Tibbetts Award, recognizing the company for its impact and achievement with the Small Business Innovation Research (SBIR) program. Using funding and program support from a Navy SBIR, B3 revolutionized wearable explosive blast monitoring with the industry leading Generation 7 Wireless Blast Gauge® System, enabling the Department of Defense (DoD) to effectively monitor thousands of servicemen and women and improve their blast-related safety.

The SBA recognizes companies who exemplify the spirit of the SBIR/STTR programs with Tibbetts Awards. These awards not only recognize successes, but help the SBA document the economic, technical, and societal benefits of these programs. 

By 2011, over 200,000 U.S. servicemembers had already been diagnosed with Traumatic Brain Injury (TBI). With nothing available to measure the blast forces that often resulted in undetectable head injuries, soldiers and medical personnel were forced to face the effects of these injuries with inconsistent and subjective data about their causes.

B3’s team developed the first Blast Gauge, a small, wearable device to measure blast exposure and cue medics to provide appropriate first-line treatment. By 2013, Blast Gauge data revealed that 75% of blast events occurred in training with the troops’ own weapons. At the same time, research emerged suggesting repetitive low-level blast might cause as much harm to the warfighter’s brain as a single, larger blast exposure. Using a Navy SBIR, B3 upgraded the Blast Gauge to measure these low-level blasts, resulting in a Phase III award from the Office of Naval Research, selection as the sensor of record by the CONQUER Program – the largest military blast exposure monitoring program ever conducted – and selection for another SBIR from the Army. The Blast Gauge has been fully commercialized with over 600,000 delivered to DoD, law enforcement, and international military users.

“SBIR funding and program support were essential in allowing B3 to take the Blast Gauge to the next level, where it now better supports our servicemembers,” says the CEO of BlackBox Biometrics, Matt Boccia. “As the industry leader in individual blast dosimetry, we are excited to continue to advance the capabilities of the Blast Gauge to meet the future needs of the nation’s warfighters, and plan to continue to use SBIR and STTR funding opportunities wherever appropriate to accelerate that development.” 

B3 is proud to be recognized for leveraging the SBIR program to stimulate technological innovation, generate business impacts, and spur economic as well as broader societal benefits.

For More Information Contact:

Scott Featherman, BlackBox Biometrics, Inc.

(585) 329-3399

scott.featherman@b3inc.com

5.11, Inc Welcomes New Senior Vice President of Omni Channel Retail, Mark Parker

Wednesday, January 27th, 2021

Parker brings over 40 years of experience across multiple functions of the retail industry to the brand
IRVINE, Calif. (January 25, 2021) – 5.11, Inc., the global innovator of purpose-built apparel, footwear and gear, has announced the addition of retail-industry veteran Mark Parker as Senior Vice President of Omni Channel Retail. Parker joins the company with over 40 years of retail experience and will lead 5.11’s efforts in enhancing the brand’s direct-to-consumer channels and customer experience.

“Mark has an extensive background across multiple functions of the retail sector,” said 5.11 CEO Francisco Morales. “He has worked with many world-class brands and led omni channel teams, human resources, digital development, communications and more, both domestically and internationally. His experience, knowledge, and commitment will be a tremendous asset to 5.11.”

Mark Parker, 5.11’s New Senior Vice President of Omni Channel Retail
Parker’s 40 years of professional experience includes time with The Disney Store, Vans, and The North Face, giving him a significant understanding of the outdoor apparel and gear industry. The last eight years of his career were focused on developing integrated omni channel experiences through retail and digital innovation and organizational development.

“5.11 has long been known as a pioneer and leading-innovator of tactical and outdoor products,” stated Parker. “It is an outstanding brand with a strong and loyal customer base. I couldn’t be more excited to join the 5.11 team and work to ensure their customers can engage in a frictionless and integrated retail experience and an elevated level of customer service.”

Mark grew up in Southport, United Kingdom and is a true citizen of the world, having lived in Madrid, Spain, Hong Kong, Singapore, Lugano, Switzerland, California, and Florida. He is an avid outdoor enthusiast who enjoys spending time on mountain trails with his family and dog.

To learn more about 5.11, please visit www.511tactical.com.

SENTRY Products Group CEO, Mike Noell, Talks to The Mentors Radio

Tuesday, January 26th, 2021

Former Navy SEAL and successful serial entrepreneur, Mike Noell, chats with host and entrepreneurial CEO Tom Loarie on life, business, and lessons learned.

Virginia Beach, Va. (January 2021) – Founder and CEO of SENTRY Products Group, LLC™, Mike Noell, spent some time with The Mentors Radio host and fellow entrepreneur, Tom Loarie, on a podcast on Jan. 6, 2021.

The Mentors Radio features three entrepreneurial CEOs hosting top-performing innovators, advisors, entrepreneurs, and CEOs from around the globe. The podcasts provide listeners with the backgrounds and stories behind some of the most successful brands and companies. Digging into their guests’ life stories, The Mentors Radio hosts reveal the business practices, life lessons, and sometimes, difficult decisions leaders make every day.

On Jan. 6, 2021, The Mentors Radio host, Tom Loarie, spoke with Mike Noell, former Navy SEAL, former founder and CEO of BLACKHAWK!, and current founder and CEO of SENTRY Products Group, LLC, based in Virginia Beach, Virginia.

Host Tom started right off by asking Mike about his “Aha!” business moment. Mike’s moment came while as a Navy SEAL during the first Gulf War in 1991. His SEAL unit was teamed up with Marines on a mission of deep reconnaissance and to provide the Kurdish people with humanitarian relief at the southern border of Turkey during the no-fly initiative established by the US. Wearing loaded packs weighing over 100 lbs., he and his team inserted via helicopters 60 kilometers into Northern Iraq. As fate would have it, the strap on Mike’s backpack broke and took him down with the fallout. A Bouncing Betty mine greeted him, just inches from where he fell. What could have been a catastrophe to him and his team, became Mike’s “come to Jesus” moment where he decided that if he got out of there alive, he would create gear that would never fail a warfighter. This would be the birth of BLACKHAWK!

For many in the military, and specifically the special operations groups, the BLACKHAWK! brand was the epitome tactical gear brand in the world for over a decade and was synonymous with superior mission-designed products. In April of 2010, the company was purchased by ATK. The resounding success of the BLACKHAWK! brand and eventual sale, left many in the industry assuming Mike Noell had successfully retired from the highly competitive world of designing and manufacturing gear.

Mike’s history as a competitive athlete (swimming) and competitive sailor, combined with his service as a Navy SEAL prepared him for a high-octane life, so retirement was not an option. This year marks the fifth year of SENTRY Products Group and the year Mike believes the brand will show significant growth in the marketplace, through their combined efforts of product launches, marketing, and sales. SENTRY Products Group is just the latest entrepreneurial passion of Mike and his team of former BLACKHAWK! executives to showcase and bring a variety of products to the market for law enforcement, military, security, and outdoor communities.

His years as a Navy SEAL had provided Mike with some of the critical skills he would take into the business world, such as to never quit, that failure is not an option, and to not try, but do. Combined with his father’s experience as a problem solver and entrepreneur, Mike’s initial endeavor into the cut and sew business for his military pals was not easy. “We started in a garage. All the gear that our guys were using was old and out of date with all the new electronics that they started to carry in the field. They needed new pouches and load-bearing systems. It was a time of transitioning out of the Vietnam era and into today where our special operators and specifically the Navy SEALS needed to accomplish their missions better and faster, and gear was critical to their success.”

BLACKHAWK! grew and over the years, Mike brought on a team of experts in their chosen fields that took the brand to the very top of its category in brand awareness, customer loyalty, and sales figures. After over a decade, Mike realized that to continue the rapid growth and technologies required to keep the company at the top spot, a financial partner was essential. Instead of a partner, the company was sold and Mike quietly went into a semi-retirement state.

“I didn’t have a good work-life balance and running a company like BLACKHAWK! was a 24/7 job. I took some time with my family and to regroup,” Mike reflected when asked by the host how he brought balance into his life. “My passion is in helping those on the line by providing them with the tools they need to make their missions successful, so after some time for reflection, I jumped back into the business world with SENTRY Products Group. At SENTRY, I now have the A-team from BLACKHAWK!, and over the past five years we have made four acquisitions, brought back our production facilities, and have some great new and innovative products lined up for release.”

Mike wrapped up his hour-long interview by telling listeners that what drives him is his customer base and what he and his team can do to make their jobs and lives more successful. “Find your passion and pursue it.”

To hear the full podcast and SENTRY Products Group CEO Mike Noell talk about what he learned from his time with the Navy SEALS and as a founder of two highly innovative companies, visit www.thementorsradio.com

Natalie Chao Joins MSR Distribution as Purchasing and Supply Chain Manager

Monday, January 25th, 2021

MSR Distribution is excited to announce the addition of Ms. Natalie Chao to the Las Vegas team. Natalie will head up the Purchasing and Supply Chain team as Manager.

She recently relocated from Los Angeles California. She says: “I had always enjoyed my visits to Las Vegas and with the high cost of living in California it was an easy decision to make the move to Las Vegas.”

Natalie has over 10 years’ experience in purchasing and inventory management in both the retail and wholesale/distribution side of the industry. As a Buyer she has had the opportunity to travel overseas to attend international trade shows. Coming from the highly competitive Home and Beauty industries, she is looking forward to bringing her sourcing and negotiation skills to MSR. Saying: “I’m super excited to be working within the defense industry!

Of-course the firearms industry is booming at present, but outside of work Natalie enjoys outdoor activities such as hiking and running, trying new restaurants, watching football and basketball games, and traveling.

www.msrdistribution.com

Rocky Brands, Inc To Acquire Leading Brand Portfolio From Honeywell Including The Original Muck Boot Company and XTRATUF

Monday, January 25th, 2021

Acquisition will significantly advance Rocky’s leadership position in high-quality performance footwear

Expected to be immediately accretive to gross margins and earnings per share

NELSONVILLE, Ohio, January 25, 2021 – Rocky Brands, Inc. (NASDAQ: RCKY) today announced that it has entered into a definitive agreement to acquire the performance and lifestyle footwear business of Honeywell International, Inc. including The Original Muck Boot Company and XTRATUF footwear brands, for a purchase price of $230 million.

Jason Brooks, President and Chief Executive Officer of Rocky Brands, Inc., commented, “With the acquisition of The Original Muck Boot Company along with the XTRATUF, Servus, NEOS and Ranger brands, we will greatly enhance our powerful portfolio of footwear brands and significantly increase our sales and profitability. We’re acquiring a well-run business with a corporate culture and a customer base similar to ours, which provides meaningful growth opportunities within our existing categories as well as an entrée into new market segments. Its innovative and authentic product collections complement our existing offering with minimal overlap, which will allow us to strengthen our wholesale relationships and serve a wider consumer audience. At the same time, we plan to leverage Rocky’s advanced fulfillment capabilities to improve distribution of the new brands to wholesale customers and accelerate direct-to-consumer penetration. I am incredibly proud of the success our organization has achieved over the past several years, and I am excited to build on our momentum as we begin this exciting new chapter for the Company.”

“We are thrilled to be joining Rocky Brands,” said Craig Reingold, President of Honeywell’s lifestyle footwear business. “This transaction will bring together many strong, beloved brands. As we look to the future, the combined entities provide our passionate associates with greater opportunities to serve our accounts and consumers who have come to love our brands. I could not be more proud of the team and their success in building our brands over the past several years. We look forward to a smooth integration and capitalizing on our collective experience, innovation and operational expertise to deliver outsized growth for years to come.”

Lifestyle and Performance Business Overview

The acquired brand portfolio has built strong consumer loyalty through years of developing innovative, quality footwear. For 2020, net revenue is estimated to be approximately $205 million with EBITDA of approximately $24.5 million. The business grew in 2020 with performance accelerating throughout the year, culminating in strong top-line growth in the fourth quarter.

The Original Muck Boot Company has pioneered the quality rubber and neoprene boot category by delivering remarkably weatherproof and exceptionally comfortable products made with premium materials designed to brave every element. For more information, visit www.muckbootcompany.com

XTRATUF is a leading outfitter in the commercial fishing segment having provided Alaskan fishermen with capable, comfortable and reliable footwear in wet conditions for nearly 60 years. For more information, visit www.xtratuf.com

Servus boots date back to the 1920s and today the brand is known for its high-quality, accessible PVC footwear made for wet working conditions.

NEOS is known for overshoes with extreme traction. Its products are proven to keep feet dry and comfortable in extreme conditions and surefooted on almost any terrain.

Ranger boots are built for cold and wet weather and providing exceptional comfort and function at a value price.

Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

In connection with the signing of the purchase agreement, seven management employees of Honeywell’s lifestyle footwear business located in Westwood, Massachusetts have entered into employment agreements with Rocky Brands, the effectiveness of which agreements is conditioned on the closing of the transaction. As an inducement to enter into the employment agreements, Rocky Brands agreed to grant stock options to the seven management employees, totaling options to purchase 25,000 shares, on the date of closing of the transaction. The options have a term of 10 years from the date of grant and vest 50% on the first anniversary of the date of grant with the remaining 50% vesting on the second anniversary of the date of grant. The options were granted as inducements to employment in accordance with Nasdaq Listing Rule 5635(c)(4).

Transaction Financing

The purchase price is being funded with an $80-million senior secured asset-backed credit facility with Bank of America, N.A., a $130 million senior secured term loan facility with The Direct Lending Group of TCW Asset Management Company LLC, and cash on hand. The credit facility bears interest at LIBOR plus 1.50% and the term loan bears interest at LIBOR plus 7.00%. Terms of the credit facility and term loan will be more completely discussed in the Company’s Form 8-K filed with the Securities and Exchange Commission

Transaction Approval and Closing

The definitive purchase agreement, which is subject to customary closing conditions and regulatory approvals, was approved unanimously by the Rocky Brands Board of Directors and is expected to close in the first quarter of 2021.

Advisors

B. Riley Securities served as financial advisor to Rocky Brands, Inc. and provided its Board of Directors with a fairness opinion. Porter Wright Morris & Arthur LLP served as legal counsel to Rocky Brands, Inc. Centerview Partners served as the financial advisor to Honeywell, and Crowell & Moring LLP served as legal counsel.