TrackingPoint, a rapidly growing firearms company that suspended operations in the spring, has resumed taking and fulfilling orders following the successful completion of a financial and operational restructuring.
In the spring of 2015, TrackingPoint temporarily suspended production and deliveries in order to put the company back on a strong financial footing. TrackingPoint previously announced 2014 year-on-year unit growth of 281 percent, and its management indicated that the rapid growth subsequently outstripped the company's ability to manage its operations.
TrackingPoint's founding team of John Lupher and John McHale has returned to manage the company going forward. John Lupher reassumes his founding role as VP of engineering, while John McHale, formerly chairman, returns to his original role as CEO.
“We were successful early on, so John Lupher and I decided to go back to our roots and take TrackingPoint to the next level,” said McHale. Frank Bruno, COO, and Richard Wierzbicki, CFO, bolster the team to ensure the company operates efficiently going forward.
The company has a five person board of directors that includes Eric Olson, the first Navy Seal to rise to the rank of four-star Admiral. Olson, a Navy Seal for 38 years and retired former Commander of the US Special Operations Forces, helps lead TrackingPoint's defense strategy and initiatives.
“I'm glad to see TrackingPoint moving forward with renewed focus on law enforcement and the military. This is innovation at its best, with a real and meaningful purpose for security forces and war fighters,” said Olson.
“This is a new beginning for TrackingPoint,” said McHale. “We will focus intently on the consumer, continue to innovate, and operate in a way that ensures long term success.” The company's investors include the Friedkin Group, Goff Capital Partners, and McHale Labs.
TrackingPoint is based near Austin, TX, and created the first Precision-Guided Firearm, a revolutionary new shooting system that puts fighter jet lock-and-launch technology in small arms, enabling shooters to make shots previously considered beyond human ability.
