Smith & Wesson Sold
Many shooters will be happy to learn that Smith & Wesson, or what’s left of it, has been purchased by Saf-T-Hammer Corp., the Scottsdale-based firearms-safety and security company.
“Smith & Wesson, a brand name for 147 years, would be at the top of any list of immediately identifiable corporate logos recognized worldwide,” said Bob Scott, president of Saf-T-Hammer and former vice president of Smith & Wesson.
Tomkins Corp., a subsidiary of U.K.-based Tomkins PLC, sold Smith & Wesson for $15 million in cash, with $5 million paid upon closing and the balance due in May 2002. As of the close, Smith & Wesson’s total assets were approximately $97 million, which includes two manufacturing fa...