A newly formed holding company known as Heritage Outdoor Group just acquired Precision Shooting Equipment, Inc., one of the leading manufacturers of archery equipment in the U.S. Heritage announced the acquisition of PSE in a press release on Feb. 15.
News of the buyout isn’t a complete surprise. Rumors have been swirling for some time regarding a potential purchase of the compound bow manufacturer by Bowmar Hunting (owned by Josh and Sarah Bowmar) or other personalities in the hunting space. But since Heritage Outdoor Group is a relatively unknown up-and-comer in the hunting and archery space, some are curious what the acquisition means for the future of PSE.
“We are thrilled to welcome PSE Archery to the Heritage Outdoor Group’s family of brands,” Heritage CEO Zack Gleeson said in the release. “PSE Archery’s commitment to innovation, quality and customer service has been respected for decades in the industry. We are grateful for the opportunity to further enhance and grow the brand that Pete Shepley built.”
Neither PSE nor Heritage immediately responded to requests for comment. But according to Heritage Outdoor Group’s website, this “family of brands” is only beginning to take shape. Arizona-based PSE is the only brand currently under its umbrella, although the site hints at acquiring “Stealth,” possibly a reference to Stealth Outdoors, sometime soon. Heritage’s LinkedIn profile describes the new company as an “investment management” brand with 11 to 50 employees that “has a rich history of innovation”—presumably a reference to PSE.
A Brief History of PSE
Precision Shooting Equipment was founded by engineer Pete Shepley in 1970. While the company began experimenting with a wide array of archery equipment, Shepley set out from the get-go to build the perfect compound bow—a new invention at the time that received its first patent in 1969. With this goal in mind, PSE became one of the original five manufacturers of compound bows in the U.S., according to its website.
Innovation is still at the heart of PSE’s mission, and the company now holds more than 20 of its own patents for bow design and archery products. This includes the four-stage forging process that has allowed PSE to bring some of the lightest and strongest bows to market over the years.
Read Next: The Best PSE Bows Ever Made
PSE’s decision to sell to Heritage Outdoor Group is just another step in this direction, according to Gleeson.
“We’re going to keep producing the most innovative bow platforms in America,” he said in an interview with Free Range American. “If you love PSE today, you’re going to continue to love it.”
Gleeson went on to explain that Heritage and PSE will continue to operate as separate entities, while working together on the marketing and sales sides of the business. Neither company disclosed the terms of the acquisition, but both sounded optimistic about the deal.
“I have full confidence in the Heritage Outdoor Team to continue to build on the foundation I have built here at PSE,” Shepley said in yesterday’s press release.