Sierra Bullets has been acquired by Clarus Corporation (NASDAQ: CLAR) for the sum of $79,000,000, “subject to a post-closing working capital adjustment”. Sierra is one of the world’s leading producers of bullets for hunters, sportsmen, and target shooters. With revenues topping $30,000,000 per year, Sierra has long been a major force in the firearms world. Clarus, formerly Black Diamond Inc., is a Utah-based holding company which “seeks opportunities to acquire and grow businesses that can generate attractive shareholder returns”. Clarus also owns Black Diamond Equipment, Ltd., maker of outdoor equipment/clothing for the climbing, skiing and mountain sports markets.
StreetInsider.com reports: “The transaction is expected to be immediately accretive to Clarus’ earnings per share. For the unaudited 12 months ended June 30, 2017, Sierra’s total revenues were approximately $32 million with EBITDA of approximately $12.5 million, representing a purchase price multiple of approximately 6.3x EBITDA. Sierra has a strong cash flow profile, generating free cash flow conversion of approximately 95% with limited ongoing capex requirements.”
“The team at Sierra has continued building on a 70-year legacy dedicated to the highest-level of precision in design, world-class manufacturing and quality control,” said Warren B. Kanders, executive chairman of Clarus. “These attributes have cultivated a diverse customer base of enthusiasts and industry OEMs that drive high recurring revenue and strong cash flow, which we expect to maximize through the utilization of our net operating loss carry forwards.”
Sierra’s President Pat Daly commented: “Our team takes great pride in developing and manufacturing the most precise and accurate bullets in the world. This is supported by our deep institutional knowledge of highly-specialized manufacturing processes that have produced leading products and created a significant competitive advantage. As the only pure-play bullet brand, it was important for us to partner with a team that shares our values and commitment to excellence, and we are excited to join the Clarus family. I look forward to staying on to continue driving our brand growth.” All senior management are expected to remain with Sierra under Clarus’ ownership.
About Sierra Bullets
Founded in 1947 in California, Sierra Bullets is an American manufacturer of bullets. Based in Sedalia, Missouri since 1990, Sierra manufactures a wide range of bullets for both rifles and pistols. Sierra’s product line, recognized by iconic “green box” packaging, includes popular brands such as MatchKing, GameKing, and BlitzKing. Sierra bullets are used for precision target shooting, hunting, and defense purposes. For more information, visit SierraBullets.com.
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Burris Signature Rings with polymer inserts are an excellent product. The inserts allow you to clamp your scope securely without ring marks. Moreover, using the matched offset inserts you can “pre-load” your scope to add additional elevation. This helps keep the scope centered in its elevation range while shooting at long range. Additionally, with a -20 insert set in the front and a +20 insert set in the rear, you may be able to zero at very long ranges without using an angled scope base — and that can save money. (To move your point of impact upwards, you lower the front of the scope relative to the bore axis, while raising the rear of the scope.)
Insert Elevation Values and Ring Spacing
People are sometimes confused when they employ the Burris inserts. The inset numbers (-10, +10, -20, +20 etc.) refer to hundredths of inch shim values, rather than to MOA. And you need the correct, matched top/bottom pair of inserts to give you the marked thousandth value. Importantly, the actual amount of elevation you get with Burris inserts will depend BOTH on the insert value AND the spacing between ring centers.
Forum member Gunamonth has explained this in our Shooters’ Forum:
Working with Burris Signature Rings
Burris inserts are [marked] in thousandths of an inch, not MOA. To know how many MOA you gain you also need to know the ring spacing. For example, with a -20 thou insert set in the front and a +20 thou insert set in the rear, if the ring spacing is 6″, the elevation change will be approximately +24 MOA upwards.
Here’s how we calculate that. If you have a 2 X 0.020″ “lift” over a distance of 6 inches (i.e. 0.040″ total offset at 0.5 feet) that’s equivalent to 0.080″ “lift” over 12 inches (one foot). There are 300 feet in 100 yards so we multiply 0.080″ X 300 and get 24″ for the total elevation increase at 100 yard. (Note: One inch at 100 yards isn’t exactly a MOA but it’s fairly close.)
Here’s a formula, with all units in inches:
Total Ring Offset
——————– X 3600 = Change @ 100 yards
Ring Spacing
(.020 + .020)
—————– X 3600 = 24 inches at 100 yards
6
NOTE: Using the above formula, the only time the marked insert offset will equal the actual MOA shift is when the center to center ring spacing is 3.60″. Of course, you are not required to use 3.60″ spacing, but if you have a different spacing your elevation “lift” will be more or less than the values on the inserts.
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A carpet is used up front for smoother tracking with the Joy-Pod’s flat, ski-style feet. The arms of the Joy-Pod were painted to match the stock. The rear bag features low-drag material on the ears.
The F-Class World Championships recently concluded in Canada. Our friend Derek Rodgers won the individual F-TR Championship using a rifle with a McMillan Xit stock and Kelbly F-Class Panda action. If you’re wondering what a modern F-TR competition rifle looks like, here is a new F-TR build from Forum member DM.Oakes.
Modern F-TR Rig with Borden Action, Krieger Barrel, and SEB Joy-Pod
This handsome .308 Win F-TR rig features a smooth-running Borden BRM action, 30-inch 1:10″-twist Krieger barrel, and an X-Ring Laminated Wood stock. Up front is a coaxial “Joy-Pod” joystick bipod. This is a state-of-the art, wide footprint bipod used by many competitors at the Worlds in Canada. The long joystick allows the “driver” to quickly adjust both elevation and windage in a smooth, continuous motion. The Joy-Pod can be adjusted so it will hold setting during the shot — you don’t have to “hard-hold” the joystick. Many shooters let the joystick slide through their fingers as the rifle moves back on recoil. With a little practice (and careful placement of the rear sand-bag), the tracking is excellent and you can slide the gun right back to point of aim after each shot.
One eye or two? That’s the question that confounds some pistol shooters, particularly during slow fire. When shooting one-handed, some bullseye pistol shooters use a piece of tape or paper on one lens of their shooting glasses to obscure their non-dominant eye. That way they can get a more precise sight picture. However, when shooting two-handed, it’s almost always better to shoot with both eyes open. And if you are doing a “move and shoot” session/match, you’ll surely want to have both eyes open.
Champion pistol shooter Doug Koenig says he always shoots handguns with both eyes open: “To me it’s very simple — I wouldn’t drive my car with one eye closed. I wouldn’t walk around the house with one eye closed. To me, it’s all about your vision, your depth perception.” Doug adds that you definitely need both eyes open to transition quickly from target to target.
With both eyes open you’ll have better depth perception and peripheral vision. You will also be able to transition from target to target more quickly. In a timed, multi-target stage, you’ll want to move your head/eyes to the next target right after you break a shot. You’ll find that you will then reflexively move the handgun on to the new target when you swing your vision on to it. Don’t linger on the target you just shot — move to the next.
Here are two other helpful videos from Doug Koenig and the NSSF:
Sight Alignment and Sight Picture
Trigger Press and Trigger Control
Doug Koenig’s List of Championships:
10-time World Champion
18-time Bianchi Cup winner
2016 NRA World Shooting Champion
More than 70 National Championships
6-time World Action Pistol Championship Winner
3-time World Speed Shooting Champion/Steel Challenge
Watch Doug Koenig’s Championship Season TV show on the Pursuit Channel: Wednesday 5:30 pm (Eastern); Friday 9:00 pm (Eastern); Saturday 1:30 am (Eastern) West Coast prime-time.
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