by In what I’m sure will be the talk of the SHOT Show tomorrow (and tonight), Barrett Firearms was acquired by the Australian company NIOA Group. This is a 100% acquisition. An email announcing the sale was sent out at noon today.
From the announcement:
In announcing the deal, NIOA Group CEO Robert Nioa said the two family-owned companies came together out of a shared commitment to quality, innovation, loyalty, and mission.
“NIOA’s association with Barrett dates back to 2008. We have been inspired by the story of Barrett and admire what Ronnie, Chris and the family have built over more than four decades,” Mr. Nioa said.
“It’s been a story of hard work, perseverance, and purpose culminating in the delivery of critical capability for the men and women of the US military and its allies around the world as well as exceptional products to law enforcement agencies and civilian markets.
“Together we share the same mission – combining our expertise and family business values will ensure Barrett carries on building the finest products in the world.’’
Mr. Nioa confirmed the company would continue to operate under the Barrett brand as a separate division within the NIOA Group alongside NIOA Australia, NIOA New Zealand, the Australian Missile Corporation and the group’s investment in joint venture company Rheinmetall NIOA Munitions.
All management and staff at the Murfreesboro manufacturing facility in Tennessee have been retained and production will continue as normal. Over time it is expected that manufacturing activities in Murfreesboro will be further expanded.
Financial terms of the transaction were not disclosed.
Mr. Nioa also announced two key leadership appointments – current Barrett President Sam Shallenberger has been promoted to the role of Chief Executive Officer while long-serving Barrett Chief Operating Officer Bryan James becomes President.
Ronnie Barrett and Chris Barrett will provide ongoing support as executive advisers to Barrett and the NIOA Group.
Barrett founder Ronnie Barrett said “Today marks the beginning of a new chapter in the Barrett story. Rob and the NIOA team have great respect for the legacy Barrett has created as the leader in long range precision rifles. It’s reassuring to know Barrett will be in good hands with a family-owned company that is focused on manufacturing and delivering world-class firearms and munitions to a global network.”
According to the FAQ released on the acquisition, customers really are not going to see much, if any, difference. The pricing will remain the same, the company will remain in Murfreesboro TN, management other than the Barretts will remain in place, the Barretts will serve as advisors to both Barrett and NIOA Group, and the name will remain the same.
The Barretts and NIOA Group have had a business relationship since 2008 and both are family run. The FAQ states that the Barretts saw this as a good fit and that it provides opportunity for growth.
It will be interesting to see what other “gossip” there is about the sale tomorrow at the show. If any is worth passing on, I’ll do so.