Smith & Wesson to draw on expanded line of credit for acquisition of Battenfeld Technologies

By Jennifer Chiou

New York, Nov. 26 – Smith & Wesson Holding Corp. announced that it has signed a definitive agreement to acquire Battenfeld Technologies, Inc. and plans to use cash on hand and a $100 million draw under its existing line of credit to finance the transaction.

The line of credit has been expanded to $125 million as a result of the company's partial exercise of the accordion feature, according to a news release.

Battenfeld Technologies is being acquired from Clearview Capital, a private equity firm based in Connecticut, for $130.5 million in cash, subject to certain adjustments.

Smith & Wesson makes firearms and is based in Springfield, Mass. Battenfeld Technologies provides hunting and shooting accessories and is based in Columbia, Mo.

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