Vista Outdoor

CSG Appoints Paul Lemke as CEO of CSG USA

Retrieved on: 
星期一, 五月 6, 2024
Kinetic Group, Vista Outdoor, Straight Flush, CSG, Law enforcement, Federal Bureau of Investigation, Fiocchi Munizioni, Knowledge, Government, Firearm, Acquisition, Czechoslovak Group, Growth, Drug

PRAGUE, May 6, 2024 /PRNewswire/ -- Czechoslovak Group ("CSG"), a leading global industrial holding company, has appointed Paul Lemke to serve as Chief Executive Officer of CSG USA, the company's Virginia-based U.S. division. As part of his new role, Mr. Lemke will be responsible for identifying opportunities for growth and innovation and for developing strategic trade relationships with key business segments, including the U.S. Armed Forces, law enforcement and other government agencies. Mr. Lemke has nearly three decades of military and business experience in the firearms and ammunition industries. He served for 20 years in the U.S. Army, working in military diplomacy and security assistance, retiring with the rank of lieutenant colonel.

Key Points: 
  • CSG USA plays a key role in serving the U.S. market and growing global trade opportunities on behalf of CSG.
  • "Paul brings significant experience and knowledge of the U.S. market and our industry and we are pleased to welcome him as CEO of CSG USA," said David Štěpán, Member of the Board of Directors of CSG and CEO of the CSG Ammo+ division.
  • Paul Lemke served for 20 years in the U.S. Army, where he rose to the rank of lieutenant colonel.
  • In March 2024, he joined CSG USA as CEO.

Revelyst Announces Sale of RCBS

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星期四, 五月 2, 2024
Retail, Sports, Other Retail, Other Sports, Manufacturing, Other Manufacturing, Hunting, Vista Outdoor, Sale, RCBS, CFO, Culture, Growth

Through this transaction, Revelyst found the right home for RCBS with Hodgdon, a market leader in American manufacturing, smokeless powder, clean black powder substitute and now reloading equipment.

Key Points: 
  • Through this transaction, Revelyst found the right home for RCBS with Hodgdon, a market leader in American manufacturing, smokeless powder, clean black powder substitute and now reloading equipment.
  • “Under Hodgdon’s ownership, RCBS can continue its operational excellence, growth and scale across the shooting sports industry.”
    The sale is effective immediately.
  • “Selling RCBS allows us to raise cash to create a more dynamic portfolio for our company’s future,” said Andy Keegan, CFO of Revelyst.
  • “Revelyst will use proceeds from the sale to enhance the operational efficiencies of the company’s power brands, evaluate bolt-on acquisitions, and invest in maker-fueled innovation and organic growth.”
    Baird served as exclusive financial adviser and Reed Smith LLP served as legal adviser to Revelyst on this transaction.

Vista Outdoor in Discussions with MNC Capital, Advises MNC to Increase their Offer Price

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星期一, 四月 22, 2024
Online Retail, Retail, Sports, Other Sports, Manufacturing, Specialty, Other Manufacturing, Vista Outdoor, LLP, Central Time, CSG, Foreign investment, MNC, Gibson Dunn, Morgan Stanley, Committee, Cravath, Swaine & Moore

Vista Outdoor Inc. (“Vista Outdoor” or the “Company”) (NYSE: VSTO) today confirmed it is engaging in discussions with MNC Capital (“MNC”) related to its March 25, 2024 unsolicited indication of interest pursuant to which MNC expressed interest in acquiring Vista Outdoor in an all-cash transaction for $37.50 per Vista share.

Key Points: 
  • Vista Outdoor Inc. (“Vista Outdoor” or the “Company”) (NYSE: VSTO) today confirmed it is engaging in discussions with MNC Capital (“MNC”) related to its March 25, 2024 unsolicited indication of interest pursuant to which MNC expressed interest in acquiring Vista Outdoor in an all-cash transaction for $37.50 per Vista share.
  • Michael Callahan, Chairman of the Vista Outdoor Board of Directors, said, “The Vista Outdoor Board does not consider MNC’s revised proposal to be superior to the transaction with CSG and continues to believe MNC’s proposed offer price undervalues the Revelyst business.
  • Accordingly, the Board has authorized Vista management to provide MNC with non-public information so MNC can increase its offer price.
  • Vista Outdoor notes there can be no assurance the discussions with MNC will result in either an increased offer price or any transaction with MNC.

CSG Sends Letter to Senator J.D. Vance Addressing His Concerns Regarding Planned Acquisition of Vista Outdoor’s Sporting Products Business, The Kinetic Group

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星期二, 四月 16, 2024
Contracts, Defense, Military, Kinetic Group, Vista Outdoor, General Dynamics Land Systems, Sale, Army, CSG, Treasury, Raytheon Technologies, Nonsense, History, Vladimir Putin, General Dynamics, Acquisition, Afghan Army, Mining, Government, Czechoslovak Group, Letter, FMG, CFIUS, Arms industry

Vance (R-OH) addressing concerns he raised in a letter to U.S. Treasury Secretary Janet Yellen in connection to CSG’s proposed acquisition of Vista Outdoor Inc.’s (NYSE: VSTO) (“Vista Outdoor”) Sporting Products business – recently renamed The Kinetic Group.

Key Points: 
  • Vance (R-OH) addressing concerns he raised in a letter to U.S. Treasury Secretary Janet Yellen in connection to CSG’s proposed acquisition of Vista Outdoor Inc.’s (NYSE: VSTO) (“Vista Outdoor”) Sporting Products business – recently renamed The Kinetic Group.
  • The full text of the letter can be found below:
    In January, you sent a letter to Treasury Secretary Janet Yellen expressing your concerns about the proposed sale of The Kinetic Group, formerly Vista Outdoor’s Sporting Products business, to our company, The Czechoslovak Group (“CSG”).
  • In your letter, you claimed that CSG is a company with a long record of wrongdoing and well-documented connections to American adversaries.
  • That's why we invite you to visit CSG member companies in the U.S. and Europe to experience first-hand who we really are.

The Czechoslovak Group Highlights the Benefits of Its Planned Acquisition of Vista Outdoor’s Sporting Products Business, The Kinetic Group

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星期一, 四月 8, 2024
Defense, Aerospace, Manufacturing, Military, Government Technology, Other Defense, Contracts, Kinetic, Firearm, Vista Outdoor, Growth, CFIUS, Czechoslovak Group, JPMorgan Chase, Committee, Acquisition, CCI, Foreign investment, Kinetic Group, Fiocchi Munizioni, Plant, CSG, Hart–Scott–Rodino Antitrust Improvements Act, Federal, Federal Trade Commission

CSG also highlighted the benefits of its planned Acquisition:

Key Points: 
  • CSG also highlighted the benefits of its planned Acquisition:
    “CSG is a leading industrial technology company operating across strategic business segments including defense, aerospace, ammunition and mobility.
  • We look forward to successfully closing the Acquisition of The Kinetic Group and becoming the steward of such venerable American brands as Federal, CCI and Remington.
  • CSG understands the special importance to American consumers of the brands that are part of The Kinetic Group.
  • Working alongside Vista Outdoor, we are actively engaged in the process and believe we will secure all required approvals.

Vista Outdoor Confirms Receipt of Revised Indication of Interest from MNC Capital

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星期一, 三月 25, 2024
Sports, Other Retail, Outdoors, General Sports, Specialty, Consumer, Hunting, Other Sports, Other Manufacturing, Water Skiing, Retail, Other Consumer, Manufacturing, Vista Outdoor, Morgan Stanley, LLP, Acquisition, Initial, CSG, Gibson Dunn, Cravath, Swaine & Moore, MNC, Financial adviser

On March 4, 2024, the Vista Outdoor Board of Directors (the “Vista Outdoor Board”) rejected an unsolicited indication of interest received on February 19, 2024 from MNC pursuant to which MNC expressed interest in acquiring Vista Outdoor in an all-cash transaction for $35.00 per Vista Outdoor share (the “Initial MNC Indication”).

Key Points: 
  • On March 4, 2024, the Vista Outdoor Board of Directors (the “Vista Outdoor Board”) rejected an unsolicited indication of interest received on February 19, 2024 from MNC pursuant to which MNC expressed interest in acquiring Vista Outdoor in an all-cash transaction for $35.00 per Vista Outdoor share (the “Initial MNC Indication”).
  • The Vista Outdoor Board carefully reviewed and considered the Initial MNC Indication in consultation with its outside legal and financial advisors.
  • Morgan Stanley & Co. LLC is acting as sole financial adviser to Vista Outdoor and Cravath, Swaine & Moore LLP is acting as legal adviser to Vista Outdoor.
  • Moelis & Company LLC is acting as sole financial adviser to the independent directors of Vista Outdoor and Gibson, Dunn & Crutcher LLP is acting as legal adviser to the independent directors of Vista Outdoor.

Revelyst Announces Acquisition of PinSeeker, a Leading Skill-Based Golf Simulator Competition Platform

Retrieved on: 
星期一, 三月 25, 2024
Software, Sports, Entertainment, Other Retail, Apps, Applications, Technology, Golf, Other Manufacturing, Other Communications, Other Entertainment, Retail, Communications, Manufacturing, Friends, Vista Outdoor, LLP, Acquisition, Reed Smith, Foresight, Ecosystem, Sport, Multimedia

The acquisition allows Foresight Sports to capitalize on strong market demand for competitive tournaments and experiences in off-course golf and will fast-track the evolution of Foresight Sports' game and content platform.

Key Points: 
  • The acquisition allows Foresight Sports to capitalize on strong market demand for competitive tournaments and experiences in off-course golf and will fast-track the evolution of Foresight Sports' game and content platform.
  • PinSeeker will be integrated into Foresight Sports, the leading maker of golf launch monitors and simulators, in Revelyst’s Precision Sports Technology platform.
  • “Our two Precision Sports Technology platform brands — Foresight Sports and Bushnell Golf — are best-in-class golf brands.
  • “PinSeeker reinforces that Foresight Sports is the undisputed leader in golf technology,” said Jon Watters, Co-President and General Manager of Revelyst’s Precision Sports Technology platform.

MNC Capital Increases Proposal to Acquire Vista Outdoor to $37.50 Per Share

Retrieved on: 
星期一, 三月 25, 2024
Finance, Outdoors, Sports, Professional Services, General Sports, MNC, Vista Outdoor, Letter, CFIUS, Kinetic Group

MNC Capital Partners, L.P. (“MNC”) today announced that it has submitted an increased all-cash proposal to acquire Vista Outdoor, Inc. (NYSE: VSTO) (“Vista” or the “Company”) for $37.50 per share, or approximately $3.0 billion.

Key Points: 
  • MNC Capital Partners, L.P. (“MNC”) today announced that it has submitted an increased all-cash proposal to acquire Vista Outdoor, Inc. (NYSE: VSTO) (“Vista” or the “Company”) for $37.50 per share, or approximately $3.0 billion.
  • Vista’s shares were trading below $30.00 per share when MNC made its initial proposal on February 19, 2024.
  • MNC has provided the details of its financing to Vista, as well as all other information that Vista requested in its March 4, 2024 letter.
  • MNC expects Vista to promptly engage and agree to MNC’s proposal, which is clearly in the best interest of Vista’s shareholders and employees.

Vista Outdoor Clears Key Milestone in Sale of The Kinetic Group to CSG and the Separation of Revelyst into a Standalone Public Company

Retrieved on: 
星期五, 三月 22, 2024
Other Manufacturing, Other Consumer, Sports, Hunting, Other Retail, Manufacturing, Fishing, Consumer, Retail, Outdoors, Kinetic, Vista Outdoor, CFIUS, Form, Carolina Christian College, Committee, Sale, Acquisition, Foreign investment, Kinetic Group, Plant, CSG, Special, Central Time, Transaction, British, Register

The announcement is a key achievement in Vista Outdoor’s strategic plan to unlock value by separating its Revelyst and The Kinetic Group segments into separate companies.

Key Points: 
  • The announcement is a key achievement in Vista Outdoor’s strategic plan to unlock value by separating its Revelyst and The Kinetic Group segments into separate companies.
  • “We are excited to reach this important milestone as we position The Kinetic Group and Revelyst for long-term success,” said Michael Callahan, Chairman of the Vista Outdoor Board of Directors.
  • “We believe the proposed sale provides is the best strategic alternative to maximize value for stockholders.
  • As we look ahead to Revelyst being a standalone company post-separation, our brand-led consumer obsessed and maker-fueled culture is coming into shape.

Revelyst to Host Investor Day

Retrieved on: 
星期二, 三月 12, 2024
Sports, Other Retail, Outdoors, General Sports, Consumer, Golf, Other Manufacturing, Fashion, Fishing, Retail, Other Consumer, Biking, Cycling, Manufacturing, Webcast, Sport, Calendar, Vista Outdoor, Sports complex, Q&A, CHRO, Online shopping

Revelyst, a collective of world-class maker brands that design and manufacture performance gear and precision technologies and a segment of Vista Outdoor Inc. (NYSE: VSTO), today announced it will host an Investor Day.

Key Points: 
  • Revelyst, a collective of world-class maker brands that design and manufacture performance gear and precision technologies and a segment of Vista Outdoor Inc. (NYSE: VSTO), today announced it will host an Investor Day.
  • Revelyst is in the process of separating into a standalone public company , with an expected execution in the second quarter of calendar year 2024.
  • The presentations will provide an in-depth review of Revelyst’s strategy, key initiatives, business platforms and financial performance.
  • A live webcast and related materials will be available on the Vista Outdoor website ( https://vistaoutdoor.com ) at the time of the event.