Who Bought Savage Arms?
Savage Arms, a renowned American firearms manufacturer, has undergone several changes in ownership throughout its history. In this article, we will delve into the company’s past and answer the question: Who bought Savage Arms?
Early Years and Founding
Savage Arms was founded in 1894 by Arthur Savage in Utica, New York. The company started as a small manufacturer of sporting rifles and shotguns, quickly gaining a reputation for producing high-quality firearms. In the early 20th century, Savage Arms began to focus on producing military rifles, including the M1903 Springfield rifle and the M1917 Enfield rifle.
Changes in Ownership
In 1920, Savage Arms was sold to the International Harvester Company, a leading agricultural equipment manufacturer. Under International Harvester’s ownership, Savage Arms continued to produce firearms, including the popular Model 99 rifle.
War Effort and Post-War Era
During World War II, Savage Arms shifted its production to military rifles, including the M1 Garand and the M1 Carbine. After the war, the company returned to producing civilian firearms, including the popular Model 110 rifle.
Merger with Harrington & Richardson
In 1948, Savage Arms merged with Harrington & Richardson (H&R), another prominent firearms manufacturer. The merged company, known as Savage-Harrington, continued to produce a wide range of firearms, including rifles, shotguns, and handguns.
Changes in Ownership (1960s-1990s)
In the 1960s, Savage-Harrington was sold to Lion Capital, a private investment firm. Lion Capital later sold the company to Omni Corporation, a conglomerate with interests in various industries, including manufacturing and finance.
Bankruptcy and Reorganization
In the 1990s, Savage Arms faced financial difficulties and filed for bankruptcy. The company was subsequently acquired by PAE Corporation, a private equity firm. PAE Corporation reorganized the company and continued to produce firearms under the Savage Arms brand.
Current Ownership
In 2013, Sino-American Silicon Products Inc. (SAS), a Taiwanese company, acquired Savage Arms from PAE Corporation. SAS is a leading manufacturer of precision components, including silicon wafers and solar panels. The company has continued to invest in Savage Arms, expanding its product line and production capacity.
Recent Developments
In recent years, Savage Arms has introduced new products, including the popular 110 Precision rifle and the B17 F tactical shotgun. The company has also expanded its presence in the international market, establishing partnerships with distributors and dealers around the world.
Table: Savage Arms’ Ownership History
| Year | Owner |
|---|---|
| 1894 | Arthur Savage |
| 1920 | International Harvester Company |
| 1948 | Savage-Harrington (merger with Harrington & Richardson) |
| 1960s | Lion Capital |
| 1970s | Omni Corporation |
| 1990s | PAE Corporation |
| 2013 | Sino-American Silicon Products Inc. (SAS) |
Conclusion
Savage Arms has undergone significant changes in ownership throughout its history. From its founding by Arthur Savage to its current ownership by Sino-American Silicon Products Inc., the company has remained committed to producing high-quality firearms. Today, Savage Arms is a leading manufacturer of rifles, shotguns, and handguns, with a global presence and a reputation for excellence.
