For Immediate Release - August 5, 2022
WHITE CITY, ORE.– Ballistic Armor Co. announced this morning that the Medford-based company has been acquired.
Emmett Armstrong, Medford resident and sole owner of the company, sold Ballistic Armor Co. to a locally owned private equity group and will be transitioning out of his role as CEO effective immediately.
Raven Equity, LLC, the acquiring company, was co-founded in 2022 by Medford City Councilor and former Ballistic Armor Co. partner Alex Poythress. Poythress and Armstrong purchased Ballistic Armor together in 2017 from Black Flag Armory (Medford, Ore), and grew the business exponentially through its e-commerce website prior to Poythress selling his stake in the company in July of 2020.
Since the beginning of the COVID-19 pandemic the company has contended with major operational setbacks impacting supply chain, customer service, and inventory management. In recent months the issues escalated to a gridlock, with a major operational overhaul appearing to be the only path forward.
To fuel an overhaul the acquisition also comes with an immediate injection of operating capital. A second round of funding is planned for later this year to continue the momentum of new growth.
The acquisition also comes with new leadership. In their announcement Ballistic Armor Co. welcomed Alex Poythress as the company’s new CEO. With his background in the company and experience in marketing and operational management, Poythress is a key part of the plan to turn a new leaf.
“Mr. Armstrong has guided a military equipment company through a pandemic, a chaotic presidential administration change, and a resurgence of international conflict in Europe and Asia,” said Poythress. “He has a lot to be proud of, and we have a lot to do.”
Poythress said work is already underway to put new customer service systems in place, designed to streamline communication and promote accountability across the board. “And then,” he said, “We must tighten the reigns on our supply chain.”
“Demand for ballistic body armor is up everywhere, in large part due to the war in Ukraine. None of our competitors can stay in stock right now. Lead time for raw materials is up to 2-3 months per order, and that’s largely out of our control because of middlemen,” Poythress said in a memo to stakeholders.
“We’ll be taking our business closer to the source, cutting the lead time on manufacturing by as much as 60%. The net impact for our customers is… they get the same quality products much faster.”
Ballistic Armor Co. is a Medford-based distributor of military grade ballistic body armor, including a custom line of IIIA ballistic helmets manufactured in Europe. Founded in 2015, the company offers discounts to local law enforcement agencies and active duty + veteran military personnel in the United States. Learn more about the company at ballisticarmorco.com.