Smith & Wesson buys Savage for about $164.9 million, giving the seller's owners 16.7% and a board seat
SEC filings show Smith & Wesson Brands paid 8,993,968 shares and $42.4 million in cash for Long Range Intermediate LLC, leaving the seller's owners with 16.7% of the company.
Smith & Wesson Brands acquired Long Range Intermediate LLC (Savage) for shares and cash with an adjusted value of about $164.9 million, and the seller's owners now hold 16.7% and can designate one board nominee, a Schedule 13D filed on 28 October 2026 shows.
- Adjusted deal value
- About $164.9 million
- Cash
- $42.4 million, subject to adjustment
- Shares issued
- 8,993,968
- Stake after merger
- 16.7%
- Board right
- One designee while above 10%
- Filing
- Schedule 13D, 28 Oct 2026
Smith & Wesson Brands, Inc. (CIK 1092796) has issued 8,993,968 shares and agreed to pay $42.4 million in cash to acquire Long Range Intermediate LLC, which the filing refers to as Savage. The shares leave the seller's owners with 16.7% of the company, according to a Schedule 13D filed with the SEC on 28 October 2026.
The merger agreement is dated 21 October 2026. Savage was sold by Savarms, L.P., a wholly owned subsidiary of JDH Capital I, L.P. The filing puts the adjusted transaction value at about $164.9 million, against a base of $160.0 million, with the cash subject to a post-closing adjustment (Schedule 13D, Item 4, 28 October 2026).
The 8,993,968 shares equalled 19.99% of Smith & Wesson's shares before the merger, valued at a reference price of $13.62, a 45-day volume-weighted average. After the merger they are 16.7% of 53,986,307 shares outstanding (Schedule 13D, Items 4 and 5).
JDH Capital Company is the general partner of JDH Capital I. It is wholly owned by Hildebrand Enterprises Company, which the filing says is wholly owned by Jeffery D. Hildebrand and Melinda B. Hildebrand. Each reporting person reports shared voting and dispositive power over all the shares (Schedule 13D, Items 2 and 5).
Under an investor rights agreement, the holders may designate one person for nomination to the board, a right that lapses if their stake falls below 10% or as otherwise set out in the agreement. Their shares are released from lock-up in three equal instalments, 90, 240 and 360 days after closing. While the standstill applies and they hold at least 10%, they must vote in line with the board's recommendation on director elections and other specified matters (Schedule 13D, Item 4).
The holders say they may buy or sell shares and may encourage or seek extraordinary transactions, including a merger or board changes, but state no current plans beyond these (Schedule 13D, Item 4).
The filings do not state who the board designee will be. Loro has made no approach to the company. Figures are as reported in Smith & Wesson Brands' SEC filings.
Primary sources
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