Breaking News: Colt to buy LWRC for $60 Million

CST Grad C.Nixon

CST Grad C.Nixon

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

There are a couple of other sources also claiming the same news...

Discuss... good, bad or ugly? :p
 
Competition is good. Keeps the prices lower and the manufacturers on their toes. Monopoly is the Canadian health care system.

This could give a second breath to Colt's rather dull line up... if they own the LWRC ambi lower they could perhaps make them their standard. Otherwise, the only LWRC I'd ever even consider getting is the DI model because pistons are just silly in an AR.
 
Those couple of other sources all seem to tie back to TFB.

I trust TFB. But I generally require a few more sources to make something like this "official."

$60 million isn't half bad though. Interesting to see how Colt's coping with losing the military contracts :rolleyes:
 
Shooter1of38 said:
Did Colt buy it off the EE?


Laugh2
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I-see-what-you-did-there.jpg
 
Buy it to get rid of the competition and then go back to their old ways.....just like big box stores swallowing up the local groceries....
 
yohann160 said:
Competition is good. Keeps the prices lower and the manufacturers on their toes. Monopoly is the Canadian health care system.

This could give a second breath to Colt's rather dull line up... if they own the LWRC ambi lower they could perhaps make them their standard. Otherwise, the only LWRC I'd ever even consider getting is the DI model because pistons are just silly in an AR.
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lol, the US health care system is far more expensive, but dream on.
 
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