Home Forums Hunting & Shooting Bowhunting Martin archery being liquidated

Always thought that was a tactical marketing error on their part. Particularly when the growth in the sport of archery is from women and yutes.

Closing of the doors also marks the third archery company that DaNuge previously pimped that is no longer in biz. Browning and Renegade being the others - beware to Mathews!

I think of it more as something for the wimmens and yutes to aspire to or to have! I'm still have my Martin Cougar Speed Flite circa '94 as my backup! Overdraw and all!!!

Read yesterday they may avoid closing, but it involves the port of Walla Walla buying the land to reduce their debt to allow them to be sold.

Uncle Ted was big into Oneida years ago. They survived kinda.

Laura on the right (also a bills cheerleader) shoots for Strother now..She had an archery elk tag on the wasatch this year, havent heard if she got one tho.

Deal May Give Martin Archery New Lease, New Life

Editor's note: In an article appearing in the Aug. 27 Archery Wire, we informed readers about the uncertain future for historic bowmaker, Martin Archery, a company struggling to stay alive and hoping to find investors to relieve its overwhelming debt. According to the following report from the Sept. 22 Walla Walla Union-Bulletin, Martin's chances for survival are improving. - JRA


By Vicki Hillhouse
Special to The Archery Wire

WALLA WALLA - Martin Archery could have a shot at survival under a new owner.


A Los Angeles-based private equity firm would continue the manufacturing operation in an elaborate change of hands that includes help from the Port of Walla Walla.

Diversis Capital LLC Managing Director Ron Nayot said Friday (Sept. 20) it's too soon to disclose terms of the firm's proposal. However, the vision includes a long future for the more than 60-year-old company founded by the late Gail Martin and his wife, Eva.

"It's still early right now, and there's a lot more work to be done, but we're trying to work quickly to keep Martin Archery a surviving business," Nayot said.

The next step in the process comes Monday (Sept. 23) at a special meeting of the Port of Walla Walla. Port commissioners will consider purchasing the more than 4.5-acre complex on which the company operates off Heritage Road.

Port Executive Director Jim [bleep] said the economic development agency would pay $1.3 million for the property, then lease the property to the new business.

[bleep] emphasized the 4 p.m. meeting Monday at the Port office, 310 A St., is designed simply to seek approval of the proposal. He said it could take weeks to finalize negotiations, formalize paperwork and set the changeover in motion.

The Port's land buy, at about $400,000 less than the original listing price, would help pay down the tremendous debt that has led the company to the brink of closure.

"The Port Commission has a real emphasis on business retention," [bleep] said. "This has been a stalwart company for decades. (The Port) just feels to the point that we can save some jobs and grow the business it's an investment worth making."

He said the proposed lease would start with a 10-year timeline. "That's one of the big things for the Port," [bleep] said. "We want the company to stay in Walla Walla."

Diversis would likely form a new limited liability company under which it would continue manufacturing the bows that have been used by bowhunters and archers worldwide, and even in the spotlight of Hollywood films and through celebrity endorsements.

The three-generation business that produced at least 50,000 bows a year and at its height employed 100 people had been languishing amid debt. But few knew how serious it was until the July 21 death of founder Gail Martin at 89.

The man who had turned a hobby fletching business into a manufacturer with global reach was so highly regarded as a pioneer and Archery Hall-of-Famer that those in the industry to whom he owed money were inclined to cut the business more slack, Chief Executive Officer Tim Larkin said last month.

Although the business has returned to profitability, recapitalization is essential for the company's survival, he said. Employment is down to about 20 people at the plant.

Diversis investors believe through streamlining measures and re-energizing sales, the company can grow far beyond that.

"Long-term the goal is to make the business much larger in the community and bring more jobs to Walla Walla," Nayot said.

Started about four months ago, Diversis primarily focuses on small to middle-market investments of up to $20 million in equity, according to its website. The company targets underperforming businesses for rebuilding.

Nayot commended the Port and Martin family for what is a "challenging transaction," especially considering how close the business is to closure.

"It's been a great effort to rally together and save this thing," he said. "At the point that we're at it's definitely got the opportunity to thrive. A couple months later, it could have been in real peril."

This article appears with the permission of Vicki Hillhouse and the Walla Walla Union-Bulletin