American Outdoor Brands Corp. announced that its firearms business, Smith & Wesson Corp., has completed the purchase of substantially all of the assets of Gemini Technologies, Inc., known as Gemtech, for $10 million.
Gemtech is a provider of suppressors and accessories for the consumer, law enforcement, and military markets.
The signing of the definitive purchase agreement for the acquisition was announced on July 5, 2017.
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.
American Outdoor Brands Corporation 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.
Photo courtesy Gemini Technologies
