Firearms manufacturer Smith & Wesson Holdings Corp. (SWHC) said Wednesday it would acquire privately-held Battenfeld Technologies Inc. in a $130.5 million deal that would add to its portfolio of hunting and shooting accessories.
Columbia, Mo.-based Battenfeld is a maker of shooting, reloading, gunsmithing and gun cleaning supplies sold under a number of brands including Caldwell, Wheeler Engineering and Lockdown Vault Accessories. The company, which operates a 145,000 square foot facility in its hometown, is owned by Clearview Capital LLC.
The Deal reported in May that Clearview was prepping Battenfeld for a sale.
Smith & Wesson, of Springfield, Mass., said that the purchase would expand its presence in the hunting segment, and build its portfolio of accessories. The company said it expects to eventually move all of its accessories business, including what is already part of Smith & Wesson, into a division with Battenfeld.
"Battenfeld Technologies provides us with a unique opportunity to acquire a thriving company that fits perfectly within our core firearm business," Smith & Wesson CEO James Debney said in a statement. "As we continue to expand further into the hunting category, we expect that our accessories businesses will benefit from Battenfeld Technologies' sourcing and distribution efficiencies and established expertise in new product development."
Smith & Wesson said it would fund the deal using existing cash balances and a $100 million draw on its existing line of credit. Battenfeld CEO Jim Gianladis post-deal will head the Battenfeld accessories division, which will remain based in Missouri.