Czechoslovakian firearms company Česká Zbrojovka Group SE has acquired the 175-year-old American gunmaker for $205 million in net cash and 1.1 million CZG shares worth about $17 million. CZ already sells a range of products here through a U.S. subsidiary, which will oversee Colt after the deal consummates. The terms include an earn-out of up to an additional 1.1 million shares, if a cumulative EBITDA of $275 million over the 2021-2023 period is achieved. CZ’s balance sheet cash will pay for 30% to 40% of the acquisition, with the rest financed through new debt issuance.

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