An Ontario County-based maker of air rifles has a new owner.
This week, the Crosman Corporation of East Bloomfield was purchased by Compass Diversified Holdings for $152 million. That firm owns various middle market businesses.
Crosman’s previous owner was Wellspring Capital Management.
Crosman also announced that Robert Beckwith has been promoted to CEO. Most recently, he was the company’s chief financial officer.
A spokesman for Crosman, Jason Reid, tells WXXI News the sale should be considered positive news for the local company which employs about 230 people. He says it will be business as usual under the new ownership.
The CEO of Compass Diversified Holdings, Alan Offenburg, said that his company is “…excited to draw on our past ownership of Crosman and deep experience with outdoor branded consumer product companies, and look forward to working with the company’s strong management team to solidify Crosman’s leading position in airguns and further penetrate the archery market.”
Compass previously had been an owner of the Crosman several years ago.
