Norwest Equity Partners, a leading middle market investment firm, announced that it has made a significant investment in Savage Sports Corp., one of the world’s premier providers of outdoor sportsman products. Operating under the brand names of Savage Arms, Savage Range Systems and BowTech Archery, the Company designs, manufactures and markets a broad range of rifles, shotguns, archery and range systems primarily used for hunting, competitive and recreational target shooting. NEP invested alongside Savage management in this transaction, which closed on Jan. 24.
The Savage Arms brand was first established in the late nineteenth century by Arthur Savage and since then has expanded into a portfolio of well-known, market leading brands that also include Stevens and Fox. The Company has also earned a reputation for manufacturing quality products for accuracy, innovation, value, and superior American craftsmanship.
Erik Torgerson, a NEP partner and senior advisor, stated, “Savage is an industry leading, best-in-class company. Our investment will help advance global market expansion and the continued development of an innovative, diversified products platform. The Company operates within a fragmented industry, and there is significant opportunity for consolidation through add-on acquisitions in both existing and adjacent market categories. Under the leadership of Ron Coburn and his accomplished management team, Savage is well-positioned to continue to expand and exceed its growth objectives.”