LaserMax, acquired by Crosman, joins larger corporate structure
By Daniel Terrill
A LaserMax laser beam attached to a pistol made by Smith & Wesson, which own’s LaserMax’s competitor. Kinda funny. (Photo: LaserMax/Facebook)
Crosman acquired laser sight company LaserMax a couple weeks after the airgun and optics manufacturer was acquired by a Connecticut capital investment company.
The chain of events kicked off July 5 when Compass Diversified Holdings completed the purchase of Crosman for $152 million using both cash and credit, according to public filings of the transaction. Then, Crosman acquired LaserMax on July 20 for an unspecified sum using Compass’s revolving credit line.
Compass chief executive officer, Alan Offenberg, explained “this premium laser sight brand” would allow Crosman to reach a wider customer base in the outdoor recreation market.
“The addition of LaserMax’s Commercial business supports Crosman’s strategic initiative of expanding into attractive adjacent markets and realizing cross-selling opportunities with current big box retail and international customers,” Offenberg said in a statement.
According to the statement to investors, LaserMax has developed “significant intellectual property in laser technology, resulting in a comprehensive IP portfolio.” A search of the company’s website shows products for industrial use and firearms.
Public filings show LaserMax reported $8 million in net revenue for the last fiscal year, which ended for the company June