About the Transaction
Founded in 1889, the Ontario Knife Company (“OKC”) (ontarioknife.com) is an award-winning knife, cutlery, and tool manufacturer. OKC has a long tradition of manufacturing knives and tools for the U.S. military, producing high quality equipment that has seen continuous service since WWII. In addition to being a major supplier to the U.S. Armed Forces, OKC leverages a network of distributors, dealers, and major commercial retailers to sell its products nationwide and internationally to over 35 countries.
OKC parent company Servotronics, Inc. (“Servotronics”) (servotronics.com) is a designer and manufacturer of servo controls and other components for various commercial and government applications including aircraft, jet engines, missiles, manufacturing equipment and other aerospace applications. Founded in 1959, Servotronics’ reputation as a “problem solving company” is well earned and well recognized.
The buyer, Blue Ridge Knives, Inc. (“BRK”) (blueridgeknives.com), is a leading wholesale knife, tactical, outdoor, and hunting gear distributor. In addition to general purpose knives, BRK also offers kitchen cutlery, swords, multi-tools, sharpeners, navigation, optics, survival, flashlights, and lighters.
Servotronics Chief Executive Officer, William F. Farrell, Jr., stated:
“We are pleased to take another step forward in our strategic plan with the sale of the Ontario Knife Company’s assets. We believe this sale represents the best option for the business, and we believe that Blue Ridge Knives will uphold OKC’s longstanding brand and quality commitments. As part of our review of strategic alternatives, we have decided to wind down the business of our Consumer Products Group and dedicate our focus and resources to growing our Advanced Technology Group.”
Phil Martin, President of Blue Ridge Knives, Inc., commented:
“We are excited to add the longstanding heritage and brands of Ontario Knife Company to the BRK portfolio. The combination of OKC and our extensive dealer network provides considerable opportunities to grow our business and enhance our position in the tactical, outdoor and hunting markets.”