Lucosky Brookman Congratulates its Client, Ammo, Inc. on its Successful $240 Million Acquisition of GunBroker.com
Lucosky Brookman (www.lucbro.com) congratulates its client, Ammo, Inc. (NASDAQ: POWW) (www.ammoinc.com) on its successful $240 Million acquisition of GunBroker.com (www.gunbroker.com). Lucosky Brookman is proud to have been able to serve as lead M&A counsel to the company, as it strives to create further accretive value for shareholders. This tremendous accomplishment is the result of months of hard work by management, the board, the firm, and many others, culminating in a watershed moment for the company.
Ammo, Inc. is a premier American ammunition and munition components manufacturer and technology leader. GunBroker.com is the world’s largest on-line auction marketplace dedicated to firearms, hunting, shooting and related products. The transaction involved an approximate $240 million merger of reorganized entities resulting in GunBroker.com and certain affiliates becoming a wholly owned subsidiary of Ammo.
Lucosky Brookman Managing Partner, Joseph Lucosky, commented, "Congratulations to our client, Ammo, Inc., on this tremendous accomplishment. The successful closing of this $240 Million acquisition is a testament to the hard work of a multitude of people. While this transaction was significant because of its size, scope and complexity, it was even more amazing because of the incredible team effort put forth by the company and its many professionals, including the many Lucosky Brookman Practice Groups which were utilized during the course of the transaction -- from the M&A Practice Group led by Adele Hogan, to the firm's Lending Practice Group, to our Corporate & Securities Practice Group, to our Intellectual Property Practice Group -- it was a remarkable team effort."
Fred Wagenhals, AMMO’s Chairman and CEO, stated, “We could not be more excited about bringing the GunBroker.com team into the AMMO family. Everyone worked hard to make this happen -- and we will now set about to further expand the GunBroker.com brand as we leverage the amazing IT platform Steve Urvan and his team developed to bring AMMO products and a host of other products and merchandise to the vibrant GunBroker.com marketplace." Fred further noted that “With the transaction successfully closed, our team has reached another vertical integration milestone for the Company, representing an opportunity to diversify our revenue base with high profit-margin business offered through a premier brand deploying best-in-class secure transactional technology.”
Gunbroker.com's majority shareholder, Steve Urvan, commented: “I am excited we have closed the transaction so I can take my seat on the Board of this dynamic and growing company. I am confident our newly expanded AMMO team will bring innovative products and solutions for our expanding and loyal customer base. The GunBroker.com marketplace is going to enjoy the new shopping opportunities that serve the firearms, ammunition and accessory outdoor and shooting sports markets as we roll them onto the platform.”