US defence contractor Alliant Techsystems in talks to buy Bushnell

06 Aug 2013

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Alliant Techsystems Inc (ATK) the US aerospace, defense, and commercial products manufacturer, is in advanced talks to buy gun accessory maker Bushnell Outdoor Products Inc for around $1 billion, Reuters yesterday reported, citing two sources familiar with the matter.

Private equity firm MidOcean Partners, owner of Bushnell had in February hired Morgan Stanley and Robert W Baird to find buyers for the company.

In 2007, New York-based MidOcean Partners had teamed up with the senior management of Bushnell to acquire the company from Wind Point Partner for an undisclosed sum.

Founded in 1948, Kansas-based Bushnell is a global manufacturer of optics and imaging. Its products include binoculars, spotting scopes, telescopes, night vision equipment, GPS devices, laser rangefinders, riflescopes, holographic weapon sights, game cameras and other high-end optical equipment.

The company also sells Bollé Performance Eyewear ski goggles and sunglasses and Serengeti Eyewear all-purpose sunglasses.

Its products are sold under the Bushnell, Tasco, Serengeti, Bolle, Uncle Mike's Law Enforcement, Stoney Point, Hoppe's, Blackwater Gear, and Butler Creek brand names.

Formed in 1990 as a subsidiary of Honeywell Inc, as part of Honeywell's plan to exit the defense industry, Virginia-based ATK has grown into a $4.4 billion defence contractor mainly through internal expansion and a series of acquisitions.

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