RUGER SEES BIG DROP IN SALES AS INCOME FALLS OVER 50%
Sturm, Ruger & Co. reported that secondquarter sales were off 30 percent, to $140.7 million, the Connecticut-based manufacturer with a major facility in Newport reported, and profits fell by more than half, to $20.8 million, compared a record quarter in 2021.
Gun sales have fallen nationwide, with criminal background checks for the second quarter showing a 17 percent decrease in sales. At Ruger, estimated units sold from distributors to retailers saw a 31 percent decline.
Supply chain issues and inflation hurt profit margins, CEO Chris Killoy said.
Despite the results, stockholders will be rewarded a 47 cents-a-share dividend at the end of the month.
EVS METAL TO EXPAND FACILITY IN KEENE
Sheet metal fabricator EVS Metal has announced plans to nearly double the size of its production facility in Keene, The Keene Sentinel reported.
The 25,200-square-foot expansion is expected to create 20 jobs for welders, press brake operators and robotic welders, adding to the company’s current staff of 45.
The fabricator also has locations in Riverdale, N.J.; Pflugerville, Texas; and Stroudsburg, Pa. EVS Metal has four locations including the one in Keene.
PROTOTEK ADDS ANOTHER ACQUISITION
Contoocook-based Prototek Holdings LLC, a leading digital manufacturing provider of CNC machining, sheet metal and industrial 3D printing services, has acquired Prototype Solutions Group, a company that offers similar services in Menomonie, Wis.
PSG is the third Prototek location in Wisconsin, where it joins Midwest Prototyping, Prototek-Grafton, a sheet metal and machining operation.
The addition of PSG is a continuation of the expansion of Prototek’s manufacturing capabilities and capacity since its acquisition in July 2020 by TruArc Partners, an investment firm, in July 2020. It now has 11 facilities across the U.S., with over 300 employees and more than 250,000 square feet of manufacturing workspace.
Terms of the transaction were not disclosed.
MICROFAB ACQUIRED BY CALIFORNIA COMPANY
Naprotek LLC, a San Jose, Calif.-based electronics manufacturing provider, has acquired MicroFab Inc., a privately held company in Manchester that provides circuit fabrication and micro-machining services to the defense, medical and telecommunications industries. Terms of the deal were not disclosed.
In a press release, Naprotek — which is owned by investment firm Edgewater Capital of Cleveland, Ohio — said Micro- Fab employees will be integrated into the company’s East Coast operations at SemiGen, a manufacturing company that is based in Londonderry near the Manchester-Boston Regional Airport.
TRUE NORTH NETWORKS MERGES INTO VISORY
True North Networks of Swanzey has merged with RightSize Solutions of Chesterfield, Mo., forming Visory, a provider of technology management, cybersecurity and hosting solutions for independent registered investment advisors, or RIAs.
Tue North provides Securities and Exchange Commission-compliant technology, network security and support to independent RIAs and other businesses across the country. RightSize provides IT management and cybersecurity services to RIAs. Before the combination, True North and RightSize were independent portfolio companies of Bluff Point Associates, a Westport, Conn.-based private equity firm. Bob Hollander was named CEO of Visory, and Steven Ryder, founder of True North, is chief strategy officer of the new company. With headquarters in Chesterfield, Visory will continue operating with its remote workforce, and keep its existing offices in Lenexa, Kan., and Swanzey.
