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Armor Express Secures New Credit Facility with CIBC Bank USA to Enhance Financial Flexibility and Support its Growth

Wednesday, September 30th, 2020

Company also announces the appointment of Joe Kuhn as its Chief Financial Officer

ARLINGTON, VA, September 30, 2020 – Armor Express, a leading manufacturer and distributor of high-performance protective solutions for the Domestic and Federal Law Enforcement markets, Department of Defense and First Responders, announced today that it has closed a new asset-based credit facility and secured term loan with CIBC Bank USA (“CIBC”). The credit facilities have a 60-month term and provide the Company with material additional capital to fund current operations and future growth initiatives, while reducing its cost of capital.

Jim Henderson, President and Chief Executive Officer of Armor Express stated, “Over the past two years, following the acquisition and subsequent merger with KDH Defense Systems, we have seen significant growth in our business. While we had the financial resources needed to support our customers and enjoyed a strong working relationship with our former lender, the asset-based credit facility provided by CIBC provides more than twice the borrowing capacity with more favorable terms. With contracts in place with the U.S. Department of Defense, and many new multi-year awards from both Federal and Domestic Law Enforcement, improving liquidity and enhancing financial flexibility will help us scale and invest in our business and better support our customers and partners. We look forward to a long and beneficial relationship with CIBC.”

The Company also announced today the appointment of Joe Kuhn as Chief Financial Officer (“CFO”). Mr. Kuhn joined Armor Express in July 2020 and he oversees all of Armor Express’ financial, accounting, IT, and compliance operations, in addition to banking and financing relationships. He brings over 25 years of financial and operational leadership experience across a number of industries and previously served as CFO at DATUM LLC; Cross Match, Inc; IntelliDyne LLC; Fishbowl, Inc.; NextPoint Networks, Inc.; Sybase 365; OPNET Technologies, Inc.; Ciraden, Inc.; and Alaris Medical Systems, Inc., among others. He began his career at PricewaterhouseCoopers LLP and was a senior manager.

Henderson continued, “Joe has been a great asset for us since he joined, and we’re excited to have him onboard as part of our leadership team. He was instrumental in helping us secure these new facilities with CIBC and his knowledge, skillsets and relationships will be a bonus for Armor Express. This is especially true as we move into the next growth phase and invest in our foundation to enhance the customer experience.”

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The Expansion of Everest.com Continues as New Storefronts Go Live This Week

Monday, September 28th, 2020

The Woodlands, Texas – September 28, 2020 – Everest.com, the first marketplace dedicated to the outdoor recreation community is excited to announce its latest line-up of new storefronts.

Marcus Johnson, EVP of Operations, says, “It’s gratifying to see our B2B efforts come to fruition with more storefronts launching and many more in the pipeline. Everest is continually working to create a robust and diversified marketplace for all outdoor recreational activities.”

Airgun Pro Shop, MIRA Safety, StrongSuit and Caveman, LLC are the latest additions to the Everest family. The new storefronts feature an array of products for shooting sports enthusiasts and emergency preparedness for civilians. Everest shoppers will now be able to shop for air guns, firearms accessories, personal protective equipment and technical gloves.

“Airgun Pro Shop is very excited to be part of the Everest vendor family,” says Rick Eutsler, President of AGPS. “We hope to show the outdoor community just how exciting, fun, and effective Modern Airguns can be for target shooting, shooter education, and even big game hunting!”

Roman Zrazhevskiy, CEO of MIRA Safety, says, “We are looking forward to educating and protecting Everest.com customers about PPE and proving that our products are the premier masks and filters available for civilian purchase.”

The new storefronts are now live on Everest:

• Airgun Pro Shop – www.everest.com/AirgunProShop

• MIRA Safety – www.everest.com/MIRASafety

• StrongSuit – www.everest.com/StrongSuit

• Caveman, LLC – www.everest.com/cavemanllc

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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 »