BRS Announces Investment in Magpul Industries Corp.

NEW YORK, NY, September 21, 2011 - Bruckmann, Rosser, Sherrill & Co. (“BRS”), a New York-based private equity firm, announced today that it has made a significant investment in Magpul Industries Corp. ("Magpul" or the "Company"). Magpul’s executive management team, consisting of founder/President Richard Fitzpatrick, VP of Product Development Michael Mayberry and COO Doug Smith, will continue to be significant shareholders following the transaction. Financial terms of the transaction were not disclosed.

Magpul, based in Erie, Colorado, designs, assembles and markets a range of innovative, performance-driven accessories for firearms. The Company’s products include polymer-based magazines, sights, stocks, slings, grips, rails and other accessories primarily for the AR-15 rifle platform (“modern sporting rifles” or “MSRs”). Magpul also offers firearms training classes, training videos and other consumer products which embody the brand’s spirit of self-sufficiency. While many of Magpul’s products are designed for professional shooters, the customer base encompasses a broad spectrum of end-users from hobbyists and sporting enthusiasts to the most specialized and highly trained military units in the world. Magpul is considered the premier brand and leading innovator within the MSR accessories market.

Bruce Bruckmann, co-founder and Managing Director of BRS, said “We are very excited to partner with Rich, Mike, Doug and the rest of the Magpul team. They have built an extraordinary company and the preeminent brand within the MSR accessories market. We look forward to supporting the Company’s continued growth.”

Richard Fitzpatrick, founder and President of Magpul, said “We chose to partner with BRS because of their deep experience in the consumer products sector and ability to provide valuable strategic guidance and access to capital. We also recognized that BRS truly believes in the Magpul brand and supports our unique culture. We look forward to having BRS as our partner.”

The transaction represents the fourth investment by BRS’s latest fund (raised in 2008) and its second investment of 2011.

Integris Partners acted as exclusive financial advisor to Magpul in this transaction. SunTrust Bank, Regions Bank and Triangle Capital provided financing for the transaction.

About BRS
BRS is a New York based private equity firm with $1.4 billion of committed capital under management in three investment partnerships, focused on investing in middle market consumer goods and services businesses. Since 1996, BRS has purchased over 40 portfolio companies for aggregate consideration of over $6.4 billion. In addition, BRS portfolio companies have completed approximately $1.9 billion of add-on acquisitions. Prior to forming the firm, the founders of BRS were in the private equity business at Citicorp Venture Capital where they closed 25 transactions with aggregate transaction values totaling $5.8 billion.

For additional information contact:
Kekst and Company
Ruth Pachman or Mark Semer
212-521-4800