Acquisition by Saf-T-Hammer On May 11, 2001, Saf-T-Hammer Corporation acquired Smith & Wesson Corp. from Tomkins PLC for $15US million, a fraction of the $112US million originally paid by Tomkins. Saf-T-Hammer also assumed $30US million in debt bringing the total purchase price to $45US million. [4] [5] Saf-T-Hammer, a manufacturer of gun locks and other firearms safety products, purchased S&W with the idea of incorporating its line of security products into all Smith & Wesson firearms in compliance with the 2000 Clinton administration agreement.
The acquisition of Smith & Wesson was chiefly brokered by Saf-T-Hammer President Bob Scott, who left S&W back in 1999 due to problems he had with Tomkins’ policies. After the purchase Scott became the President of Smith & Wesson to guide the 157-year old company back to its former glory. On February 15, 2002 the name of the newly formed entity was changed to Smith & Wesson Holding Corporation.