Smith & Wesson Buys Savage Arms
S&W has its eye on the top firearms market share with the acquisition of Savage Arms from an indirect subsidiary of JDH Capital I, L.P. in a $160 million deal inked Oct. 21. The purchase was made with 9 million shares of newly issued SWBI common stock valued at $13.62 per share and $37.5 million in cash, which will give JDH a 16.7% stake and a seat on S&W's board following closure. The purchase price represents a 7.9X multiple of Savage's adjusted EBITDA on a TTM basis ended Sep. 30 after ... Log in to view full article.