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
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