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Court Announces Successful Bidders for Assets of Bankrupt Remington Outdoor Company

Monday, September 28th, 2020

On September 27th, the US Bankruptcy Court for the Northern District of Alabama Northern Division Field posted a notice of successful bidders for the assets of the Remington Outdoor Company.

There’s a lot of information so we’ve put the successful primary and backup bidders in bold and the Remington business in italics.

• Vista Outdoor, Inc. as the Successful Bidder pursuant to the terms of the Asset Purchase Agreement…with respect to the Lonoke Ammunitions Business* and certain IP assets; and SIG Sauer, Inc. as the Backup Bidder thereto pursuant to the terms of the Asset Purchase Agreement…with respect to the Lonoke Ammunitions Business;

• Roundhill Group, LLC** as the Successful Bidder pursuant to the terms of the Asset Purchase Agreement…with respect to the non-Marlin Firearms Business; and Huntsman Holdings, LLC and Century Arms, Inc. as the Backup Bidders thereto pursuant to the terms of the Asset Purchase Agreement…with respect to certain Firearms Business IP assets certain non-Marlin Firearms Business inventory, respectively;

• Sierra Bullets, L.L.C. as the Successful Bidder pursuant to the terms of the Asset Purchase Agreement…with respect to the Barnes Ammunitions Business; and Barnes Acquisition LLC as the Backup Bidder thereto pursuant to the terms of the Asset Purchase Agreement…with respect to the Barnes Ammunitions Business;

• Sturm, Ruger & Company, Inc. as the Successful Bidder pursuant to the terms of the Asset Purchase Agreement…with respect to the Marlin Firearms Business; and Long Range Acquisition LLC as the Backup Bidder thereto pursuant to the terms of the Asset Purchase Agreement…with respect to the Marlin Firearms Business;

• JJE Capital Holdings, LLC*** as the Successful Bidder with respect to the DPMS, H&R, Stormlake, AAC, and Parker brands;

• Franklin Armory Holdings, Inc., or its designated assignee, as the Successful Bidder with respect to the Bushmaster brand and certain related assets; and

• Sportsman’s Warehouse, Inc. as the Successful Bidder with respect to the Tapco brand.

There is a hearing scheduled for 29 September to approve the those bids.

* Lonoke Ammunitions Business is Remington ammunition

** Roundhill Group, LLC specializes in real estate development.

*** JJE Capital Holdings, LLC owns Palmetto State Armory

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HSGI Boosts Manufacturing and Footprint to Increase Production & Decrease Lead Times

Friday, September 18th, 2020

SWANSBORO, N.C., Sept. 18, 2020 – High Speed Gear® kicked off a second manufacturing shift at its Swansboro, N.C., headquarters on Sept. 8 to increase production and meet the growing demand for its American-made gear.

Within the facility, HSGI® increased its overall headcount, as well as continued to invest in equipment and new technology. The company is also working with multiple county officials to stand up another facility to further expand production.

“The High Speed Gear brand has grown substantially over the last six years and we have experienced a significantly higher level of demand since July of last year”, explained Bill Babboni, HSGI Vice President of Sales and Operations. “Though we’ve increased our manpower and capabilities, we’ve also faced the same challenges this year as the rest of the industry, and we will continue to stride forward each day.”

High Speed Gear has a history of producing some of the most versatile tactical pouches & platforms in the industry. A proven performer, HSGI continues to show tremendous popularity in the law enforcement, military & shooting sports markets worldwide. HSGI’s lengthy list of top tier operators includes U.S. & allied special forces, state & local tactical units, & federal agencies. All HSGI products are Berry Compliant.

www.highspeedgear.com

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JJ Racaza and Jamey Caldwell Join The CCW Safe and FTA Team

Thursday, September 17th, 2020

CCW Safe is proud to announce Industry Partnerships with some of the greatest subject matter experts in the firearms world, Jamey Caldwell and JJ Racaza. These gentlemen join Larry Vickers to partner with the Industry’s unquestioned leader in providing legal service plans to concealed carriers through CCW Safe and providing professional liability benefits to trainers through Firearms Trainers Association. With Jamey and JJ, CCW Safe and FTA are able to leverage the knowledge and experience these gentlemen have accumulated in their long careers and pass it along to our members through content collaboration and consultation. We welcome Jamey and JJ! Stay tuned for more!

Sergeant Major (R) Jamey Caldwell, spent more than 21 years in the United States Army, serving his entire career in Special Operations. SGM Caldwell served 7 years with the 75th Ranger Regiment then spent the following 14 years in a Special Missions Unit that maintained a high operational tempo in Bosnia, Iraq, Afghanistan, and numerous other countries in the world. He has deployed to combat 14 times and has conducted well over 500 missions. SGM Caldwell has been awarded three medals for valorous actions in combat while under direct fire from the enemy. During his career SGM Caldwell has consistently dedicated himself to the success of the mission and put the unit’s goals in front of his own. He has been sought after for his leadership skills, planning, leading combat operations, teaching marksmanship skills and CQB, culminating from years of adaptive thinking in combat situations.

JJ Racaza is a highly accomplished trainer, world-class competition shooter, and former Federal Agent. JJ is a 3-time world speed shooting champion and he has broken and held multiple world speed shooting records. As a 3-time US Gold Team Member for the World Shooting Championships, JJ led the US Team in 2011 and 2014 to a Gold Medal. JJ is a Triple Grand Master in the USPSA and he was also a high-ranking competitor on the History Channel’s Top Shot television program. JJ’s instructor and professional credentials are equally impressive. He is a former Federal Law Enforcement Officer with the Department of Homeland Security. During his government service, among other aspects of his job, he served as a Lead Firearms Instructor, Field Training Officer, and law enforcement academy instructor. JJ is certified from the Federal Law Enforcement Training Center (FLETC) as an instructor in firearms, non-lethal training, and defensive tactics.

Visit Jamey Caldwell at:
Website: 1minuteout.ecwid.com
Instagram: www.instagram.com/1minuteout

Visit JJ Racaza at:
Website: jjracazatraining.com
Instagram: www.instagram.com/jjracaza

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Qore Performance Partnership with European Distributors

Tuesday, September 15th, 2020

STERLING, VA – Qore Performance has partnered with European distributors, Brownells Deutschland and Terräng MP-Sec, to facilitate access to their thermoregulation technologies for customers throughout Europe. Brownells has a network of retail and mail order locations across Europe, making order fulfillment and shipping costs far more efficient for Qore Performance customers on the far side of the Atlantic. Along with their close relationship with French Special Operations and Law Enforcement organizations, MP-Sec distributes to customers in France, Belgium, Italy, and North Africa.

Louis Tidey, Director of Commercial Sales for MP-Sec said, “We are very excited to represent Qore Performance products in France and to introduce these great products to the French MIL/LEO forces. We believe it’s the next stage for soldier hydration management.”

Qore Performance Director of Sales and Business Development, Doug Burr added, “Qore Performance is proud to facilitate access of our products to our friends and allies in Europe. We look forward to building our relationship with these two great companies. Brownells Deutschland and MP-Sec were both specifically chosen as our distributors due to their established records of excellence in supplying and serving customers across Europe.”

Both MP-Sec and Brownells Deutschland will carry many elements of the Qore Performance IceAge Ecosystem, including IcePlate Curve and IcePlate Sleeve Combo, as well as IceVents Aero and IceVents Classic padding solutions. The IceAge Ecosystem is focused on thermoregulation to enhance human performance in any environment through lightweight, durable, multi-use products that provide multiple modes of heating, cooling, and hydration. The IceAge Ecosystem is compatible with almost every tactical load carriage system on the market today.

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THRiL Now Available Through MSR Distribution

Thursday, September 10th, 2020

The company, established in 2017, began manufacturing specially designed mags, grips, and stocks with the intent to continually support the passion of tactical, hunting, and outdoor recreation enthusiasts. Their vision is to give back to the individuals that have served to protect our rights and support communities to ensure longevity of these activities.

MSR Distribution has built their reputation on being the go-to specialist wholesale distributor for hard-to-find and highly sought-after products. Their partnership with THRiL enables MSR Distribution to provide those seeking quality firearm accessories with the latest and greatest products that THRiL has to offer.

All THRiL products are proudly developed, tested, and manufactured in the USA, with a portion of all product sales being donated to a charity or foundation supporting those that give so much back to this country and its communities.

“We’re excited to expand our distribution channels and are thankful that MSR distribution is helping us to continue our mission to support the passion of firearm enthusiasts across the country,” says Kas McManus, Vice President at THRiL. He continues, “Our PMX AR Mag is now available for purchase on MSR Distribution’s site and we look forward to our continued partnership.”

thrilusa.com

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Galvion Appoints SMA (Retired) Dan Dailey as a Strategic Consultant

Thursday, September 10th, 2020

Galvion, a world leader in innovative head protection systems and power management solutions, has announced the recent appointment of Sergeant Major of the Army (SMA) Daniel A. Dailey, U.S. Army retired, as a strategic consultant to the Galvion team.

SMA (retired) Dan Dailey, is a native of Palmerton, Pennsylvania. Dailey enlisted in the Army in 1989 as an 11B (infantryman). During his 30-year career, Dailey held every enlisted leadership position in the infantry. Dailey was sworn in as the 15th Sergeant Major of the Army on Jan. 30, 2015 and relinquished the position on Aug. 9, 2019.

In addition to four tours in support of Operations Iraqi Freedom and New Dawn, Dailey deployed in support of Operations Desert Storm and Desert Shield. He earned the Bronze Star with Valor for his leadership during the 4th Infantry Division’s two?month Battle for Sadr City in 2008.

Dailey is a graduate of class 54 of the U.S. Army Sergeants Major Academy and the Command Sergeants Major Course. Dailey holds a Bachelor of Science (Summa Cum Laude) from Excelsior College.

SMA (retired) Dan Dailey said: “Galvion’s focus on active, performance-enhancing equipment –making the soldier faster, lighter and more connected – is the future of survivability. The team understands the soldier and is thinking not just about what they need today, but more importantly, what they will need tomorrow”.

“SMA (retired) Dailey’s pedigree speaks for itself,” said Jonathan Blanshay, CEO of Galvion. “We are incredibly fortunate to have him working with our Senior Leadership team, providing invaluable insight and expertise garnered from a distinguished career in the U.S. Military. Since joining us, we have learned first-hand that his career-long commitment to the survivability of the soldier, not to mention his overall core values, so closely align with what we work towards every day at Galvion. We are truly honored to have Dan on our team.”

www.galvion.com

Posted in Helmets, Industry, Press Release | 2 Comments »

Chumash Capital Investments, LLC Acquires Azimuth Technology, LLC

Wednesday, September 9th, 2020

Chumash Capital Investments, LLC (“CCI”) announced today that it has acquired Azimuth Technology, LLC (“Azimuth”) from LongueVue Capital and Clavis Capital Partners. The transaction closed on August 31, 2020. Financial terms of the transaction were not disclosed.

Azimuth is a premier manufacturer of tight-tolerance firearms components, with a focus on perfecting the industry’s most challenging parts, including handgun slides, handgun barrels and bolt carrier groups, for a diverse base of OEM and aftermarket customers. Through proprietary manufacturing techniques perfected by drawing on extensive experience in the medical device industry, Azimuth has developed a highly efficient production process that delivers exceptional product quality with absolute repeatability. Azimuth is headquartered in Naples, Florida.

LongueVue Capital is a New Orleans-based private equity firm that focuses on providing human capital, financial capital and a skill set built upon a successful 20-year track record of partnering with entrepreneurs and management teams to drive value creation in middle market companies. The firm’s opportunistic investment strategy and creative deal structures provide the flexibility to partner with attractive businesses across a variety of industries and situations.

Clavis Capital Partners is a private investment firm in Dallas, Texas with deep experience in investing in, operating and growing U.S.-based industrial businesses. The firm provides flexible capital to make control investments in a broad range of strategically viable but capital-constrained, industrial-oriented companies.

Chumash Capital Investments, LLC, a wholly owned investment entity of the Santa Ynez Band of Chumash Indians, directs economic development investments for the Chumash Tribe. It is capitalized to provide for acquisitions of companies and other opportunities that complement the growth strategy for the tribe. CCI continues to build economic security for its tribal members and future generations by maintaining and expanding a portfolio of sophisticated enterprises.

“The Azimuth team is thrilled to partner with the Santa Ynez Band of Chumash Indians as we embark on our next phase of growth in the firearms and defense industry,” said Azimuth’s CEO, Len Zaiser IV. “CCI’s acquisition of Azimuth provides a major opportunity to target government and foreign military opportunities while continuing to serve our customers with leading quality, speed and precision.”

John Elliott, CEO of the Santa Ynez Band of Chumash Indians, stated, “We are very excited to welcome Azimuth into the Chumash Capital Investments portfolio. This acquisition supports our goal of ensuring long-term economic stability for the Chumash Tribe while offering an attractive counterbalance to CCI’s existing hospitality and leisure-focused investments. We believe Azimuth is primed for continued rapid growth, and we look forward to partnering with the Company’s outstanding management team to help Azimuth reach its full potential.”

Houlihan Lokey acted as exclusive financial advisor to Azimuth, and Norton Rose Fulbright acted as legal counsel to Azimuth. Horizon Business Advisors, LLC acted as exclusive financial advisor to CCI, and Holland & Knight acted as legal counsel to CCI. Bell Nunnally & Martin LLP served as legal counsel to CCI with respect to transaction financing matters.

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Team Wendy to be Acquired by Avon Rubber for $130 Million

Wednesday, September 9th, 2020

Transaction will create a global leader in head protection systems for the military and first responder markets

CLEVELAND, OH (Sept. 9, 2020) – Team Wendy, LLC (“Team Wendy”), a leading U.S. supplier of exceptional head protection systems for military, law enforcement, search and rescue, and adventure markets, today announced that it has entered into a definitive purchase agreement with Avon Rubber p.l.c. (“Avon”) (LON: AVON) under which its subsidiary Avon Protection Systems, Inc. (“Avon Protection”) will acquire Team Wendy for a cash consideration of $130 million USD on a cash-free and debt-free basis, subject to a normalized level of working capital (the “Acquisition”). Together, Avon Protection and Team Wendy will create a global leader in head protection systems for the military and first responder markets, following Avon’s acquisition of Ceradyne from 3M earlier this year.

The acquisition is expected to close in the first quarter of Avon’s 2021 fiscal year ending Dec. 31, 2020. It is subject to Avon shareholder approval, as well as U.S. regulatory approvals and satisfaction of customary closing conditions.

At the close of the transaction, Team Wendy will operate as a subsidiary of Avon from the Company’s current headquarters in Cleveland, Ohio. Team Wendy will continue to be led by its Chief Executive Officer Jose Rizo-Patron and its six department directors, who will all remain in their positions.

“Today’s announcement marks an exciting new chapter for Team Wendy that will usher in new opportunities for our employees, our customers and our business partners,” said Jose Rizo-Patron, chief executive officer of Team Wendy. “We remain focused on our vision to save lives by providing the best for anyone wearing a helmet. Avon’s management team shares our vision for the growth and expansion of Team Wendy and, as such, we believe they are the right long-term partner for our customers, employees and other stakeholders.”

Avon Protection is the recognized global leader in respiratory and ballistic protection for the world’s militaries and first responders, with more than 1,200 employees in 12 global locations, around 70 percent of whom are based in the U.S. Avon has a primary listing on the London Stock Exchange and is a constituent of the FTSE 250 Index.

“The acquisition of Team Wendy is another important strategic step in the transformation of Avon Rubber into a leading provider of life critical personal protection systems,” said Paul McDonald, chief executive officer of Avon. “Team Wendy is a high-quality business with complementary liner and retention system technologies and established positions in Rest of World Military and First Responder helmet markets. Bringing Team Wendy into the same family with our existing Helmets & Armor business establishes Avon Protection as a global leader in Military and First Responder helmets, with an enhanced and broader product portfolio with stronger capabilities and routes to market.”

“We look forward to welcoming Team Wendy into the Avon family and working together to further develop head protection systems that prevent traumatic brain injury and to improve the performance and capability of our customers.”

“Team Wendy was founded to honor the legacy of my late daughter and improve head protection systems to prevent other families from experiencing a similar loss,” said Dan T. Moore, chairman, founder and principal owner of Team Wendy. “My family has always agreed that we would only ever sell Team Wendy if it was to the right partner. In meeting with the Avon leadership team and understanding their vision, it was clear to me that they would honor her legacy and help to drive continued and sustainable growth and innovation.”

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