PDA

View Full Version : Looks like Savage saw a goldmine in BOWTECH



treestandtimmy
01-04-2008, 10:12 AM
Check this out all you Bowtech fans

Riflemaker acquires BowTech.

Byline: Tim Christie The Register-Guard

BowTech, a Eugene maker of bows and other archery equipment, has been acquired by Savage Sports Corp., a Massachusetts riflemaker.

No purchase price was disclosed; both companies are privately held.

BowTech, founded in 1999, has 365 employees. BowTech Marketing Director Margaret Knupp said the deal is not expected to lead to job losses at BowTech, and in fact will enable the company to continue its recent growth trend.

BowTech will remain based in Eugene and its management team will remain intact. It will be a wholly owned subsidiary of Savage Sports.

Savage CEO Ron Coburn said in a statement, "We are impressed with BowTech's vision and astonishing success in the archery industry and are thrilled to have them as part of the Savage family. ... Their growth record and solid values are a great fit with our existing business and management culture."

BowTech CEO John Strasheim will serve on the Savage board.

BowTech is the largest bow company in the world. It manufactures and distributes compound bows and archery equipment. Its divisions include BowTech and Diamond Archery, Stryker Crossbows and WaterDog Surface Technologies. Strasheim and bow designer Kevin Strother and a few investors founded the company in 1999.

The company has seen strong growth in recent years and hires new employees weekly, Knupp said.

After spending $2.5 million in 2005 on an expansion project, the business occupies 75,000 square feet at its main plant on Highway 99.

BowTech has a 40,000-square-foot facility in Veneta and recently leased an 8,000-square-foot building on Bethel Road.

While the archery industry is stagnant, BowTech has managed to thrive because of its technological advances and its aggressive marketing, Knupp said.

"Frankly at this point, we're just increasing our market share," she said.

Savage Sports operates three divisions: Savage Arms makes center-fire rifles; Save (Canada) makes rim-fire rifles; and Savage Range Systems/PortaTarget makes shooting ranges, target systems and shoot houses.

COPYRIGHT 2007 The Register Guard
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved.

ICDUCKS
01-04-2008, 03:00 PM
Looks like the two fastest growing companies involved with the shooting sports ganged up to take on the world!!!!!
I love both companies! They have amazing products

Bob Johnson
01-04-2008, 06:36 PM
Hi Timmy,

Bow Tech makes a fine product. However note that they are not the largest bow manufacturer in the country. My latest readings indicate that Mathews ranks number.

treestandtimmy
01-04-2008, 07:51 PM
I think they are probably including all of their bows and crossbows in that quote. don't forget they have diamond and stryker along with bowtech. but you've got to hand it to a company that grows that huge and has only been around since '99

ICDUCKS
01-04-2008, 08:17 PM
Mathews only seems to put out 1 or 2 new products a year.
Ive shot Mathews and owned 1.They are fine bows but they are not any better than any other bow!The reason they win more competitions and have more shooters is that they try to endorse and sponsor anybody and everybody they can.They do have more shooters because of that.
If bowtech or Hoyt or PSE flooded the archery ranges with those numbers they too would win more.Its just simple math and $$$$$$!!!!!!

darcher
01-04-2008, 10:30 PM
Having been around the business a long long time I have seen the others try to do what Mathews has done and could not do it no matter how many shooters they had. There are other business issues involved in this deal you do not know about. Hope it all works out for them.

ICDUCKS
01-05-2008, 05:59 AM
[quote="darcher"]Having been around the business a long long time I have seen the others try to do what Mathews has done and could not do it no matter how many shooters they had.


I dont believe that.
Ive been around this sport a long time myself and have never seen 1 bow company with that many top shooters on their payroll!
What bow company has even come close to having that many top shooters shoot for them?
Its all about $$$!
If another bow manufacturer would give any of those pros a better deal you can bet your booty they'd be shootin a different brand!
There are well over 300 people on Mathews pro staff!

ICDUCKS
01-05-2008, 07:15 AM
This is from bowtechs site.It basically says the same

BowTech Becomes a Savage
Savage Sports Corporation, with corporate offices in Westfield Massachusetts and BowTech, located in Eugene, Oregon are pleased to announce the completion of a landmark agreement whereby Savage acquired BowTech so that the combined resources and strength of the two well-established industry leaders can be concentrated to become a major force for growth within the shooting/hunting/outdoor industry. BowTech’s family of brands will continue to be promoted and marketed independently as a wholly owned subsidiary of Savage Sports Corp.

“We are impressed with BowTech’s vision and astonishing success in the archery industry and are thrilled to have them as part of the Savage family. We are looking forward to having the employees from BowTech and its sister divisions join us,” stated Ron Coburn, Chairman and CEO of Savage Sports. “Their growth record and solid values are a great fit with our existing business and management culture.”

Eugene, Oregon will remain BowTech’s headquarters and the existing management team will continue to guide the business as it has since inception. “We recognize that BowTech has a very successful business plan in place and we intend on keeping the winning formula intact” added Coburn.

Announcing the agreement, President, CEO and Founder of BowTech, John Strasheim stated, “This is an exciting time for BowTech; our incredible growth, the launch of our new 2008 lineup, coupled with the many opportunities created by this strong partnership with Savage, who knows where BowTech will venture next - the possibilities are endless.” In addition to his other duties, Strasheim will serve on the Savage board.

Savage Sports Corporation is a privately held company and consists of 3 (Savage) divisions: Savage Arms is a leading manufacturer of center-fire rifles, located in Westfield, MA; Savage (Canada) manufactures rim-fire rifles in Lakefield, Ontario, Canada; Savage Range Systems/PortaTarget, also based in Westfield MA, manufactures patented shooting ranges, target systems and shoot houses. Other corporate brand names include: Stevens, manufacturer of center-fire and rim-fire rifles and shotguns for the budget-conscious consumer; Fox, a high quality brand of American-made shotguns. Savage is the largest rifle manufacturer in the US.

BowTech, the largest bow company in the world, manufactures and distributes the industry’s finest compound bows and archery equipment. Founded in 1999, BowTech’s corporate offices and manufacturing facilities are located on the outskirts of Eugene, Oregon. BowTech divisions include BowTech and Diamond Archery, Stryker Crossbows and WaterDog Surface Technologies with a worldwide dealer and distributor network.

©BowTech

« PreviousNext »Categories All
Videos
Press Releases
Hunting Stories
BowTech Brands BowTech
Diamond
Stryker
Airow Gun
Questions? Using BTLive

treestandtimmy
01-05-2008, 08:26 AM
Having been around the business a long long time I have seen the others try to do what Mathews has done and could not do it no matter how many shooters they had. There are other business issues involved in this deal you do not know about. Hope it all works out for them.

I think you Mathews guys view your bow like a religion, facts are facts, and just because another bow company is putting their name on the map doesn't mean that your precious Mathews are any worse. It's competition plain and simple!
Bowtech DID NOT NEARLY GO BANKRUPT! .......that was what you wanted to say instead of "other issues" but you have no proof of that...only rumors and aspersions cast into the bow world by Mathews disciples!

darcher
01-05-2008, 11:26 AM
" facts are facts " You are right, gotta know what they are tho! Both are top of the line, shoot straight.

hunterdeneugene
01-05-2008, 01:10 PM
and I shoot my PSE Pro-Shop series as good as most shoot a Matthews......probably better than the average shooter. I strictly hunt with mine and don't do the 3-d thing, have no desire to. Come August I shoot every day so I am ready for the field. I could probably shoot a Hoyt, Matthews, Diamond and such the same with the same amount of practice I do. I am impressed with PSE's customer service as a piece broke off my limb near the cam. I took it back to my pro shop. They contacted PSE who promptly sent out a set of replacement limbs and the pro shop put them on...no charge. I was back up and running within a week. OH yeah, and my bow was cheaper than a Matthews by $400. :lol:

doubleheader
01-07-2008, 07:46 AM
Not sure how many people realize this, but Ron Coburn, Savage CEO, and generally acknowledged as the man who saved Savage, was once the VP of Engineering for Case Cutlery right here in Bradford PA. As Engineering VP Ron introduced more positve change at Case in a couple years than they had seen in the previous 50. I had the pleasure of traveling to Japan with Ron and hunting Elk with him in Montana. Fabulous guy, great intellect, and not afraid of anything.
It doesn't surprise me in the least that Ron has taken the Savage brand to archery. I'm sure the marriage will be successful.