Anderson buys out Horton

[Woody Williams]

Not exactly sure what this means...

FOR IMMEDIATE RELEASE Contact: Cory Gaffney
Partner
The Anderson Group
(248) 645-8000

THE ANDERSON GROUP, LLC PARTNERS WITH EXISTING SHAREHOLDERS TO PURCHASE HORTON MANUFACTURING COMPANY, INC.

Bloomfield Hills, Michigan, February 2007 – The Anderson Group, LLC, a Bloomfield Hills, Michigan based operationally-focused private equity firm, today announced its investment in Horton Manufacturing Company,LLC. In consummating its investment in Horton, Anderson partnered with existing Horton shareholders to provide the company with growth capital to continue to strengthen the company’s market leadership position.

This is Anderson’s sixth new platform investment in the last twelve months.

Based in Tallmadge, Ohio, Horton Manufacturing Company is the world’s oldest and largest manufacturer of crossbows and crossbow accessories. Horton traces its history back to the 1960’s in Scotland when custom gun
builder and professional hunter, Bernard Horton, began commercial production of what would become the modern Horton crossbow.

As a result of its long history, superior design and exemplary customer service, Horton is the market leader in crossbows, both in terms of market share and brand recognition. Horton distributes its products worldwide through mass merchandisers, large specialty and niche sporting goods dealers.

Horton’s revenues have grown 20% over the last two years. This growth rate is expected to continue for the next decade as more states and providences throughout the US and Canada permit the use of crossbows. “Anderson’s investment in the Company is an exciting opportunity for Horton as it will provide the financial foundation on which to continue the growth of the company by offering industry-leading products to our customer base,” said Richard Szekelyi, Horton’s Chief Executive Officer. Cory Gaffney, an Anderson partner said “Anderson is extremely enthusiastic about our investment in Horton as we believe the company has an exciting future as a market leader in a growing segment of the sporting goods industry.

In the last two years alone, several states have expanded the use of crossbows for hunting and we expect this growth trend to continue.” Mark Bower, Horton’s Chief Operating Officer and an existing shareholder in the company, remarked “We, as Horton shareholders, are very excited about partnering with The Anderson group as we believe Anderson’s operational expertise, resources and strategic guidance will facilitate the continued growth of the Horton brand while, at the same time, maintaining our industry-leading customer service and long-lasting retail partnerships.”

About The Anderson Group Headquartered in Bloomfield Hills, Michigan, The Anderson Group is an operationally-focused private investment company specializing in acquiring and managing manufacturing, distribution and service businesses at the lower end of the middle market. With over 70 years of cumulative investment experience, and offices in both the united States and China, Anderson principals generally target two types of transactions: turnaround opportunities or special situations investments. In turnaround transactions, Anderson targets good businesses that are experiencing financial difficulties that can be addressed with a comprehensive plan that typically involves the restructuring of a company’s liabilities.

Special situation investments consist of opportunities either where smaller, neglected divisions of larger companies seek to break away from their corporate parents or where current ownership is seeking liquidity but a the same time is desirous of maintaining a substantial equity stake in the business after sale.

For more information about The Anderson Group please go to
www.andersongroup.biz.

[Woody Williams]

I don't want to get started on stinky deals. Whenever I see something like this I think of the movie Pretty Woman where Richard Gere buys up perfectly working companies and sells them for parts.

Ditto.

That does happen with these kinds fo companies.

They are in the business of making money, not product.

[kitty kat]

I think you can bet your last bow string that all or some parts will be made in China. I think we have to be careful in looking at where our products are made especially to the type of materials being used in their manufacture.I hope its not the existing employees that get the shaft.

[BigBird-VA]

Well over on the anti-xbow site they have a different worry. The state forum, Michigan, is worried that since this is a go for the bucks company now running it they will be inc lined to push for legalization in more states, starting right at home first. More states would indeed increase profits. Could be bad for us in a way if they should take that route and push too hard.

And Willie they are really looking under their beds now for xbow boggy men! LOL

[kev]

I figured it out Hortons will be made in China in the near future. Another good reason to buy Excalibur.

[Woody Williams]

.....
And Willie they are really looking under their beds now for xbow boggy men! LOL

Yeah, I saw that they were exorcising your posts.

"Mommy B....... cant you protect us from that mean old Big Bird?"

"Yes, sonny. I'll delete his logical posts."

[Woody Williams]

I now see that Pat has deleted all crossbow threads again.

I guess Big Bird's no nonsense posts were getting through

It seems that they can't handle the truth...

[DJH]

I can assure you that Horton will continue to be manufactured in North America and that the Anderson Group is going to continue to cash in on the outstanding products and service that is provided to the customers of Horton Crossbows. Those two features are why the Horton company has value and will continue to be an industry leader. For anyone on this site to even suggest, let alone come right out and say that Horton bows are going to be made in China to provide additional profit to investors, is irresponsible behavior that is akin to other crossbow bashers that hate all crossbows and crossbow users. Any company that makes a good crossbow deserves the respect of all of us. Taking public pots shots at our brothers is a game that has been perfected by NABC and Pope and Young, let’s not start to play that nasty game among our own ranks. We should all practice what we preach and not lower ourselves to the level of the anti-crossbow proponent.