American Outdoor Brands Corporation (NASDAQ Global Select: AOBC), a leading manufacturer of firearms and a provider of quality accessory products for the shooting, hunting, and rugged outdoor enthusiast, today announced that its firearms business, Smith & Wesson Corp., has completed the purchase of substantially all of the assets of Gemini Technologies, Incorporated, a provider of high quality suppressors and accessories for the consumer, law enforcement, and military markets, for $10.0 million, subject to post closing working capital adjustments and potential earn-out payments.
The signing of the definitive purchase agreement for the acquisition was announced on July 5, 2017, and a copy of that announcement is located at: http://ir.aob.com/phoenix.zhtml?c=90977&p=irol-newsArticle&ID=2285430.
Due to the strict regulatory requirements governing the sale of suppressors, Smith & Wesson expects the integration and ramp up of Gemtech products to take place gradually over the balance of its current fiscal year.
About American Outdoor Brands Corporation
American Outdoor Brands Corporation (NASDAQ Global Select: AOBC) is a provider of quality products for shooting, hunting, and rugged outdoor enthusiasts in the global consumer and professional markets. The company reports two segments: Firearms and Outdoor Products & Accessories. Firearms manufactures handgun and long gun products sold under the Smith & Wesson®, M&P®, and Thompson/Center Arms™, and Gemtech® brands as well as provides forging, machining, and precision plastic injection molding services. Outdoor Products & Accessories provides shooting, hunting, and outdoor accessories, including reloading, gunsmithing, and gun cleaning supplies, tree saws, vault accessories, knives, laser sighting systems, tactical lighting products, and survival and camping equipment. Brands in Outdoor Products & Accessories include Smith & Wesson®, M&P®, Thompson/Center Arms™, Crimson Trace®, Caldwell® Shooting Supplies, Wheeler® Engineering, Tipton® Gun Cleaning Supplies, Frankford Arsenal® Reloading Tools, Lockdown® Vault Accessories, Hooyman® Premium Tree Saws, BOG POD®, Golden Rod® Moisture Control, Schrade®, Old Timer®, Uncle Henry®, UST™, and Imperial™. For more information on American Outdoor Brands Corporation, call (844) 363-5386 or log on to www.aob.com.
Gemtech began as a group of leading designers with roots in the suppressor business going back to 1976. Gemtech suppressors are in use with all branches of the U.S. military and with special operations forces, military, and police around the world. For more information visit Gemtech at https://gemtech.com.