A newly shaped holding firm generally known as Heritage Outdoor Group simply acquired Precision Shooting Equipment, Inc., one of many main producers of archery tools within the U.S. Heritage introduced the acquisition of PSE in a press launch on Feb. 15.
News of the buyout isn’t an entire shock. Rumors have been swirling for a while concerning a possible buy of the compound bow producer by Bowmar Hunting (owned by Josh and Sarah Bowmar) or different personalities within the searching house. But since Heritage Outdoor Group is a comparatively unknown up-and-comer within the searching and archery house, some are curious what the acquisition means for the way forward for PSE.
“We are thrilled to welcome PSE Archery to the Heritage Outdoor Group’s family of brands,” Heritage CEO Zack Gleeson stated within the launch. “PSE Archery’s commitment to innovation, quality and customer service has been respected for decades in the industry. We are grateful for the opportunity to further enhance and grow the brand that Pete Shepley built.”
Gleeson posted the announcement to his LinkedIn web page as we speak, which reveals that along with his function as Heritage’s CEO (as of February 2023) he’s presently a Washington D.C.-based “strategic advisor” for Kryptek and a former worker of Black Rifle Coffee Company.
According to Heritage Outdoor Group’s web site, this “family of brands” is simply starting to take form. Arizona-based PSE is the one model presently below its umbrella, though the location hints at buying “Stealth,” presumably a reference to Stealth Outdoors, someday quickly. Heritage’s personal LinkedIn profile describes the brand new firm as an “investment management” model with 11 to 50 workers that “has a rich history of innovation”—presumably a reference to PSE. Neither PSE nor Heritage instantly responded to requests for remark.
A Brief History of PSE
Precision Shooting Equipment was based by engineer Pete Shepley in 1970. While the corporate started experimenting with a wide selection of archery tools, Shepley set out from the get-go to construct the proper compound bow—a brand new invention on the time that obtained its first patent in 1969. With this aim in thoughts, PSE grew to become one of many unique 5 producers of compound bows within the U.S., in keeping with its web site.
Innovation remains to be on the coronary heart of PSE’s mission, and the corporate now holds greater than 20 of its personal patents for bow design and archery merchandise. This consists of the four-stage forging course of that has allowed PSE to convey a few of the lightest and strongest bows to market over time.
Read Next: The Best PSE Bows Ever Made
PSE’s choice to promote to Heritage Outdoor Group is simply one other step on this route, in keeping with Gleeson.
“We’re going to keep producing the most innovative bow platforms in America,” he stated in an interview with Free Range American. “If you love PSE today, you’re going to continue to love it.”
Gleeson went on to elucidate that Heritage and PSE will proceed to function as separate entities, whereas working collectively on the advertising and gross sales sides of the enterprise. Neither firm disclosed the phrases of the acquisition, however each sounded optimistic concerning the deal.
“I have full confidence in the Heritage Outdoor Team to continue to build on the foundation I have built here at PSE,” Shepley stated in yesterday’s press launch.