Bowtech Becomes A Savage
 

Effective Immediately.

Savage Sports Corporation, with corporate offices in Westfield Massachusetts and BowTech, located in Eugene, Oregon are pleased to announce the completion of a landmark agreement whereby Savage acquired BowTech so that the combined resources and strength of the two well-established industry leaders can be concentrated to become a major force for growth within the shooting/hunting/outdoor industry. BowTech’s family of brands will continue to be promoted and marketed independently as a wholly owned subsidiary of Savage Sports Corp.

"We are impressed with BowTech’s vision and astonishing success in the archery industry and are thrilled to have them as part of the Savage family. We are looking forward to having the employees from BowTech and its sister divisions join us,” stated Ron Coburn, Chairman and CEO of Savage Sports. “Their growth record and solid values are a great fit with our existing business and management culture.”

Eugene, Oregon will remain BowTech’s headquarters and the existing management team will continue to guide the business as it has since inception. “We recognize that BowTech has a very successful business plan in place and we intend on keeping the winning formula intact” added Coburn.

Announcing the agreement, President, CEO and Founder of BowTech, John Strasheim stated, “This is an exciting time for BowTech; our incredible growth, the launch of our new 2008 lineup, coupled with the many opportunities created by this strong partnership with Savage, who knows where BowTech will venture next - the possibilities are endless.” In addition to his other duties, Strasheim will serve on the Savage board.

Savage Sports Corporation is a privately held company and consists of 3 (Savage) divisions:
Savage Arms is a leading manufacturer of center-fire rifles, located in Westfield, MA, while Savage (Canada) manufactures rim-fire rifles in Lakefield, Ontario, Canada.
Savage Range Systems/PortaTarget, also based in Westfield MA, manufactures patented shooting ranges, target systems and shoot houses.
Other corporate brand names include:
Stevens, manufacturer of center-fire and rim-fire rifles and shotguns for the budget-conscious consumer.
Fox, a high quality brand of American-made shotguns.
Savage is the largest rifle manufacturer in the US.

BowTech, the largest bow company in the world, manufactures and distributes the industries finest compound bows and archery equipment. Founded in 1999, BowTech's corporate offices and manufacturing facilities are located on the outskirts of Eugene, Oregon. BowTech divisions include BowTech and Diamond Archery, Stryker Crossbows and WaterDog Surface Technologies with a worldwide dealer and distributor network.

RE: Bowtech Becomes A Savage
 

I just bought the first gun I have owned in YEARS this spring..... A Savage.17HMRnone the less... Ironic isn't it :D

RE: Bowtech Becomes A Savage
 

I didn't know Bowtech was largest in the world. Seems like that happened pretty quick.

Tom

RE: Bowtech Becomes A Savage
 

Largest or most expensive?

RE: Bowtech Becomes A Savage
 

There's a lot we've been keeping secret! ;)[:-]

RE: Bowtech Becomes A Savage
 

Glad to see they are letting them continue to run the business - instead of trying to incorporate

RE: Bowtech Becomes A Savage
 

Will see what happens when the honeymoon period is over, LOL

One of our companies got bought out by a bigger company. Well everyone was all happy, until big company set a few rules.

I hope it works out for everyone, I am still buying one:D

RE: Bowtech Becomes A Savage
 

Greg.. So what does this truly mean to us the consumer?

If Bowtech was already the largest what is there to gain...besides a nice chunk of change for the Owner.

It seems they released thier new line-up early this year. That was either prior to the announcement on purpose or as a new scheme to grab even more market share.

Is Bowtech..publically traded?? I'm sure Savage probably is..huh? May have answerred my own question but.. couldn't Bowtechhave just gone public?

Give us some insider scoop!

RE: Bowtech Becomes A Savage
 

Yeah, but I don't know WHY....it's not like you ever shoot the dad gum thing......:eek: :D

RE: Bowtech Becomes A Savage
 

Yeah it was an impulse buy.... Still don't know why I bought it though:D

RE: Bowtech Becomes A Savage
 

Gr8... No BowTech was never a publicly traded company; none of the "Big 3" are/were... That's why no one but the truly industry insiders ever know their numbers.

It's truly a deal to be extremely excited about as consumer. Obviously, it provides a huge influx of R&D dollars to take the technology to an even greater level, and with everything else status quo that only benefits the end user.

RE: Bowtech Becomes A Savage
 

Here is hoping that things go differently for Bowtech and Savage than what has happened to many corporations that grow or merge.

RE: Bowtech Becomes A Savage
 

Amen Cougs I have yet to see one that workout for the smaller company;)

RE: Bowtech Becomes A Savage
 

Savage Arms makes absolutely fantastic rifles and sell them at prices well below their rivals. Out of the box accuracy is a real trait of Savage rifles. I wouldn't expect this to adversely affect Bowtech at all.If anything, this makes me want a Bowtech more instead of less.

RE: Bowtech Becomes A Savage
 

Coming from someone who knows, first hand, what a buyout from a larger Co. can mean to a "smaller" company (with 'smaller' being relative.....our numbers are in the $100M's, annually)......I can't think of a negative for Bowtech. The influx of cash flow available to them, now (likely)......should do NOTHING but help them remain an industry leader.

Look at it more like they justacquired one HELLUVA financially stable stockholder.

RE: Bowtech Becomes A Savage
 

Well I am looking at from the "people" side.
The biggest irk from our former company is the way human resource issues are handled.

I am not looking at itthrough a cash flow stance. If people at bowtech get less benefits, it may irk them and they will leave.

I for one believe it is the people at Bowtech that have made them what they are. Sometimes in these mergers the arrogance of upper management seem to forgot what made them great.

People get mistreated and they leave. This has been my views of mergers/buy outs. Being I know nothing about SA it could be better, but who knows.

RE: Bowtech Becomes A Savage
 

Everything that was handled by BowTech before (e.g., human resources, customer service, etc.) will still be handled by BowTech. Nothing has changed except an incredible influx of working capital.

RE: Bowtech Becomes A Savage
 

Well that is good, like I said

I am still buying one:D

RE: Bowtech Becomes A Savage
 

That's what occurred in our instance, too, Greg. It's been "seamless" as far as our employess have been concerned. I actually haven't noticed ANY change.....OTHER THAN the fact that we now qualify to pursue additional projects.....based on our NOW elevated status amongst the industry leaders in our field.

My everyday (employee) life hasn't changed one bit. I credit our original owners for their foresight throughout the nogotiations. it's been 2+ years....and I haven't noticed one thing, different.

RE: Bowtech Becomes A Savage
 

Merger's are never good for the employees. Look out for the RIF (Reduction in Force)

RE: Bowtech Becomes A Savage
 

Maybe - for now.

Generally speaking, a company doesn't come in and buy out another company simply to invest capitol for R&D. They're in the game for one reason and one reason only - to make money! ;)

RE: Bowtech Becomes A Savage
 

HHHHMMMMMMMMMMM!!!! Everyone thought I was crazy when I started a thread inquiring about this the other day.

RE: Bowtech Becomes A Savage
 

I agree with you in principle. It depends on what employees. The aquiree or the acquired company employees.

I have been part of 3 acquisitions, on the aquiree company side, and they are never totally seamless. There are systems integrations, HR, insurance, among other things. It may take some time but there will be some changes.

Not knowing the fundamentals behind either companies, there is still an underlying reason for the acquisitions. To say unlimited R&D dollars doesn't satisfy me as a company is still only going to spend a certain % of revenue on R&D. There is other synergies that aren't and won't be filtered down beyond the executive level for quite some time. It is certain that there have been cap ex, op ex, SG&A, EBITDA discussions prior to the acquisition. There are underlying reasons from a financial standpoint or there would be no need for the acquisition.

Regardless of the impact, I still like my Bowtech and will consider them for future archery purchases.

RE: Bowtech Becomes A Savage
 

Bout the same as when Diamler bought Chrysler. Means nothing to the consumer. Bowtec is still bowtec and savage is still savage. Just more hands that need a cut.

RE: Bowtech Becomes A Savage
 

Not everyone. Give that man a $10 cigar.:D

RE: Bowtech Becomes A Savage
 

I hope it works out for both companies and they stay true to who they are. I've always liked Savage rifles for their accuracy and affordability. I love my Guardian and the Tribute before it was fantastic.

RE: Bowtech Becomes A Savage
 

This merger makes good business sense for Savage.

Firearm sales have been flat (see Winchester) and bows have actually been stealing their thunder.
Bowhunting (for better or worse) is hot right now and Savage, which is a well established brand name
probably wanted to branch out. I'm sure that a big payday was in it for the founders and honchos
at Bowtech (who appear to have earned it due to the phenomenal growth of their company).

Sometimes it's all about timing and momentum. I wouldn't be surprised if Bowtech ends up in
a business textbook oneday. Upstarts don't usually dominate the competition so quickly, especially
in a loyal area like archery. Matthews should have at least tried to do something other than its
single cams and adding harmonic dampeners. :D

I agree that mergers have not proven very effective. Always big promises up front, but you rarely
can have a win-win for everbody. Since Savage appears to be a well run company, hopefully
they will allow Bowtech to remain fairly independent and just skim off some of the profits.

RE: Bowtech Becomes A Savage
 

Thanks for making up my mind for me Savage, my next bow will definitely be a Mathews now. Diamond was in the running, and my current bow is a Bowtech, but my dad would dis own me for buying a Savage product.

RE: Bowtech Becomes A Savage
 

That makes sense[&:]

RE: Bowtech Becomes A Savage
 

Sounds like a win win to me. Best rifle I ever owed was a Savage and don't ever plan to buy any other brand.

RE: Bowtech Becomes A Savage
 

If a bowtech bow can shoot like a savage rifle, then I think they will be in business for a long long time together. Savage makes a fairly ugly rifle, at a pretty inexpensive price... and I have never seen one that didn't shoot right at or just under 1" at 100 yards right out of the box with good optics and good ammunition. Some of the most accurate rifles on the market for any price. Bowtech is in good hands, hopefully whatever the deal with the limbs has been is fixed... I love their products.

RE: Bowtech Becomes A Savage
 

Cool I'm a Proud owner of both!