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View Full Version : Colt is purchasing LWRC for 60 Million



UWone77
20 February 2014, 19:18
From the guys at the firearmsblog.com http://www.thefirearmblog.com/blog/2014/02/20/breaking-news-colt-buying-lwrc-60-million/

Looks like Colt is purchasing LWRC for $60 Million. I wonder what this means for LWRC's line of rifles and if Colt is now a big player in the Piston Game. I'm sure more news and an official press release is to follow.



A well placed source just told us that Colt is buying LWRC for $60 million. The deal is supposed to close on 1 March. The Maryland company may relocate to Florida or Texas and the LWRC M6 Individual Carbine (M6IC) rifle will become a Colt branded product.

Richard Bernstein purchased LWRC in 2008 for $5 million. Bernstein, who is an owner and investor in a number of private businesses, has been involved in the defense industry for a while now. In 2004 he sold BAI Aerosystems to L-3 Communications (the manufacturer of EOTech Holographic sights). One of his companies was a supplier to LWRC before he purchased it.

Our friends at All Outdoors broke the news yesterday that LWRC was up for sale.

- See more at: http://www.thefirearmblog.com/blog/2014/02/20/breaking-news-colt-buying-lwrc-60-million/#sthash.8a0EdmcC.dpuf

GOST
20 February 2014, 19:28
Looks like piston AR's are about to become more mainstream.

tact
21 February 2014, 08:52
This is horrible news. LWRC going down hill now!

TripleBravo
21 February 2014, 14:11
All I can think about are the LWRCi employees. Remember what happened to the Bushmaster employees when Remington bought them? Most of them lost their jobs once they moved them out of Maine. (The fired employees started Windham Weaponry.)

I was hoping LWRCi would move out of ant-gun Maryland to make a political point. Now they will move and none of the elected officials will take the blame for the loss of tax revenue as a result of their bad decisions. So it's an added insult to the injury of it all.

At least initially here, this sounds like bad news to me. Others may see it differently.

GOST
21 February 2014, 19:48
Tennessee would be a nice home for LWRC.

rob_s
22 February 2014, 04:35
Looks like piston AR's are about to become more mainstream.

Not even close.

UWone77
23 February 2014, 12:19
Here's the update posted by thefirearmblog.com:



UPDATE #1: The sale to Colt has been confirmed by another source.

UPDATE #2: F&D Defense are suing LWRC for intellectual property violation, claiming core LWRC technology belongs to them. They are claiming damages of $12.5 damages.

UPDATE #3: The $60 million is the total for the two companies being sold (LWRC and Matech).
- See more at: http://www.thefirearmblog.com/blog/2014/02/20/breaking-news-colt-buying-lwrc-60-million/#sthash.RYtbOlSO.dpuf

Sak007
23 February 2014, 17:25
So does this mean I can get a Six8 lower ?

Computalotapus
23 February 2014, 18:05
Man and here I was looking at saving up for a 6.8 PDW :(