Garrett Metal Detectors acquiring the assets of White Electronics represents a significant development in the metal detecting industry. This acquisition likely aims to integrate White's technology and product offerings into Garrett's existing portfolio, enhancing their market presence and innovation capabilities.
Such moves can also suggest a consolidation trend in the industry, where established brands seek to expand their product lines and technological expertise. If you're interested, I can provide more details about the implications of this acquisition or the specifics of the companies involved.
Yes, Garrett Metal Detectors acquired certain assets of White's Electronics in October 2020. The transaction included White's trademarks, intellectual property, tooling, and other assets, but not White's real estate in Oregon or Scotland.
White's Electronics, which had been in business since 1950, announced the suspension of operations in June 2020. Garrett CEO Steve Novakovich commented that the White family and the Garrett family had a high level of respect for one another as competitors in the sport market for decades. Kenneth R. and Mary White, the current principals of White's, chose to fold the White's legacy in with Garrett Metal Detectors as a way of extending their "Made in the USA" tradition.
Garrett continues to provide White's product owners with access to White's manuals, while Centreville Electronics and Centreville Electronics NW provide repair and warranty services.
The amount of the transaction is not disclosed, as well as there are no other details of the financial side of the transaction.
Recall that on June 18, 2020, the owners of White's announced the termination of the company's activities and the dismissal of almost all employees.
The reason for this decision was the difficult financial condition of the company. The metal detector market fell significantly due to the general economic downturn of 2020, which hit the financial assets of the already barely afloat company White's. And now, Garrett Metal Detectors has announced the purchase of White's assets.
These are intellectual property rights, white's brand rights and manufacturing equipment.
A statement posted on Garrett's website said Garrett was proud to merge with White's and his past history of competition in the overall amateur metal market.
Rumors about the plight of The Whites have been going on for a long time, the last three years.
It was said that for the brand and assets Whites asked for 30 million dollars, but there were not many willing. For example, Nokta Makro would like to buy Whites only because of the multi-frequency technology and development of the Whites V3i platform. Minelab did not show much interest, because at one time, 25 years ago, Meinlab sold white's development on multi-frequency technology.
Let's see what happens next. I would like to see further development of the joint line of Whites Garrett, for example, the creation of professional metal detectors Garrett series AT - multi-frequency metal detectors for universal search both on the ground and under water.
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