American Outdoor Brands Corporation, a leading manufacturer of firearms and a provider of quality accessory products for the shooting, hunting and rugged outdoor enthusiast, has announced that its firearms business, Smith & Wesson Corp., has completed the purchase of substantially all of the assets of Gemini Technologies, Incorporated (“Gemtech”), 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 15, 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.
