ATK just announced that it is expanding it’s Security and Sporting group with the acquisition of Blackhawk Industries. You may remember ATK bought Eagle Industries last year, so it’s clear they see a lot of potential for growth in the tactical nylon industry.
With this buy, ATK expands it’s range of products with all of Blackhawk’s tactical and hunting goods, including it’s armor carriers, packs, pouches, knives, gloves, clothing, footwear, weapon accessories, holsters.
No word on how this effects executives and officers at Blackhawk, but we are guessing that a few Norfolk area pleasure boat dealers got some orders over the weekend.
Press release after the break.
Minneapolis, April 12, 2010 – Alliant Techsystems (NYSE: ATK) has acquired Blackhawk Industries Products Group Unlimited, LLC, one of the most recognizable brands in the rapidly expanding security market. The acquisition of Blackhawk, combined with the recent acquisition of Eagle Industries, strengthens ATK’s position in tactical accessories and equipment for domestic and international military, law enforcement, security, and sport enthusiast markets. Terms of the agreement were not disclosed.
“The acquisition of Blackhawk supports our strategy of expanding into adjacent lanes while leveraging ATK’s existing core competencies to deliver efficient growth and EPS,” said Mark DeYoung, President and CEO. “Blackhawk provides ATK with a leading tactical systems brand, an expanded portfolio of quality products, and additional design and development expertise for innovative tactical accessories. This acquisition significantly increases our presence and our potential in the growing domestic and international security markets.”
Blackhawk is headquartered in Norfolk, Virginia, and provides a comprehensive portfolio of industry-leading, high quality, tactical gear. The company operates manufacturing facilities in North Carolina, Montana, and Idaho. Since its inception in 1993, it has become one of the most widely recognized brands for tactical, military, and law enforcement equipment. Blackhawk and ATK’s existing tactical accessories business will become a division of ATK’s recently formed Security and Sporting group.
“Blackhawk is proud to join forces with ATK,” said President and founder Mike Noell. “From the very beginning we have prospered by delivering on our promise to provide law enforcement, military, and security professionals with the highest quality products to help them effectively do their jobs in service to the nation. ATK shares our vision and we look forward to what our two great companies can do together.”
ATK is a global aerospace and defense company with more than 18,000 employees in 22 states, Puerto Rico and internationally, and revenues in excess of $4.8 billion. News and information can be found on the Internet at www.atk.com.
Certain information discussed in this press release constitutes forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Although ATK believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those factors are: assumptions related to expected growth, performance, and integration of the its tactical accessories business; changes in governmental spending, budgetary policies and product sourcing strategies; the company’s competitive environment; the terms and timing of awards and contracts; and economic conditions. ATK undertakes no obligation to update any forward-looking statements. For further information on factors that could impact ATK, and statements contained herein, please refer to ATK’s most recent Annual Report on Form 10-K and any subsequent quarterly reports on Form 10-Q and current reports on Form 8-K filed with the U.S. Securities and Exchange Commission.