Colt is purchasing LWRC for 60 Million

[UWone77]

From the guys at the firearmsblog.com http://www.thefirearmblog.com/blog/2...rc-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/2....8a0EdmcC.dpuf

[GOST]

Looks like piston AR's are about to become more mainstream.

[tact]

This is horrible news. LWRC going down hill now!

[TripleBravo]

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]

Tennessee would be a nice home for LWRC.

[rob_s]

Looks like piston AR's are about to become more mainstream.

Not even close.

[UWone77]

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/2....RYtbOlSO.dpuf

[Sak007]

So does this mean I can get a Six8 lower ?

[Computalotapus]

Man and here I was looking at saving up for a 6.8 PDW