Long Point Capital is pleased to announce the sale of Savage Sports Holdings to Norwest Equity Partners and Savage management, tripling its investment.
Savage is a premier provider of outdoor sportsman products and the largest manufacturer of traditional rifles in the sporting firearms market. Long Point led the recapitalization of Savage in September 2004, and since that time the company has grown significantly. In 2007, Savage diversified and expanded its product offering through the acquisition of BowTech, a leading manufacturer of archery products.
“Long Point Capital has been extremely supportive as we have solidified our leading market position through a focus on product innovation, customer service and lean manufacturing initiatives. I am looking forward to working with Norwest to continue our successful track record,” said Savage CEO Ron Coburn.
Robert W. Baird & Co. advised Savage and Long Point Capital on the transaction, and Ropes & Gray served as legal counsel.