Colt purchases lwrc

[Dustbuster]

http://www.thefirearmblog.com/blog/2014/02/20/breaking-news-colt-buying-lwrc-60-million/

A well placed source just told us that Colt is buying LWRC for $60 million. The deal is supposed to close on 1 March. The Maryland company may relocate to Florida or Texas and the LWRC M6 Individual Carbine (M6IC) rifle will become a Colt branded product.

Richard Bernstein purchased LWRC in 2008 for $5 million. Bernstein, who is an owner and investor in a number of private businesses, has been involved in the defense industry for a while now. In 2004 he sold BAI Aerosystems to L-3 Communications (the manufacturer of EOTech Holographic sights). One of his companies was a supplier to LWRC before he purchased it.

Our friends at All Outdoors broke the news yesterday that LWRC was up for sale.

* Colt Holding Corp. owns both Colt’s Manufacturing Company or Colt Defense LLC.

- See more at: http://www.thefirearmblog.com/blog/2014/02/20/breaking-news-colt-buying-lwrc-60-million/#sthash.lGIA2Eqn.dpuf


Sent from my iPhone using Tapatalk 2 of course it ate my spelling.

[MacGyver]

What a shame.  We need more innovators - not fewer.

[Dustbuster]

I wonder if colt made that move to screw with sig sauer ......re patents on bolts and piston technology.....


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[Chris]

Booooooooo. Booooooooo. I just know, they are going to ruin one of my favorite brands.

[Dolomite_supafly]

Never thought LWRC was that big of a company. Maybe Colt bought it to remove some competition.