American Outdoor Brands Corporation, a leading manufacturer of firearms and a provider of accessory products for the shooting, hunting, and rugged outdoor enthusiast, announced that its firearms business, Smith & Wesson Corp., has agreed to acquire substantially all of the assets of Gemini Technologies, Incorporated ("Gemtech"), a provider of suppressors and accessories for the consumer, law enforcement, and military markets.
James Debney, President and CEO of American Outdoor Brands, said, "Gemtech is widely recognized for producing some of the finest rifle and pistol suppressors in the market. Gemtech's strong product development capabilities, combined with our experience in brand management and our manufacturing expertise, will help us to efficiently develop both firearms and suppressors, minimizing our time to market for both product categories. We view this acquisition as opportunistic, allowing us to enter the suppressor category, which resonates strongly with our core firearm consumer, at a time when the market is particularly soft. These elements combine to make Gemtech an excellent fit with our long term strategy."
The company intends to complete the acquisition of Gemtech utilizing cash on hand and expects the transaction to close this summer. Ron Martinez, President of Gemtech, will continue in his leadership role as General Manager, heading up the company's team located in Eagle, Idaho.
For more information visit Gemtech online at https://gemtech.com.
For more information on American Outdoor Brands Corporation, visit www.aob.com.