A popular name in the industry has been bought.
Crosman, a name that is synonymous with “air guns,” has recently been acquired. Compass Diversified Holdings out of Westport, Connecticut announced their plans to acquire the company on June 5.
Compass is purchasing Crosman for $152 million. Crosman itself reported a revenue of $118 million for the year as of April 30, 2017. Originally founded in 1923 Crosman was based in Rochester New York. Crosman was sold off to Coleman in 1971 and have had multiple owners since. One of the previous owners was in fact Compass. Compass currently owns and operates the tactical apparel 5.11.
Compass will have a 98.9% stake in Crosman, because no one wants to round up. With the the deal came a new CEO for the company. Robert Beckwith has been promoted to CEO from CFO after joining the company in 1999.
No information is available regarding what the purchase means for employment as Crosman currently employs between 200 and 400 employees. I imagine with their brand name in the industry and constant innovation in the market Crosman employees are probably safe.
Crosman is the innovative company that thought of the airbow with the pioneer line. Capable of bringing the largest animals down this could be the future of the archery industry. While not legal everywhere the interest is there and on the rise. Now under new management I look forward to the watching this company flourish.