Mustang Survival of Spencer and Elizabeth has been sold.
The production companies are among the last in the region whose operations have not be sent abroad - globalized.
The Elizabeth plant employs about 100 people and the Spencer facility employs about 60.
Mustang has been acquired by The Safariland Group, a leading manufacturer of protective products and equipment primarily for law enforcement and the military.
In a Safariland press release, the new company says Mustang Survival is the North American market leader in lifesaving equipment for recreational, military, law enforcement and industrial users in the marine and aviation environments.
"For more than 45 years, Mustang Survival has been transforming innovative ideas and technologies into high-quality and practical lifesaving products such as inflatable personal flotation devices, flotation clothing, dry suits, anti-g suits and a wide range of products to protect serious users in extreme environments," says the release.
"We are excited to be bringing together two companies that are both committed to saving lives as a part of their core mission," said Scott O'Brien, president of The Safariland Group."
"Mustang Survival's history of lifesaving marine and aviation equipment has presented unique growth opportunities for our company, especially as we aim to broaden our suite of products that help save lives."
"The Safariland Group, acquired by an affiliate of Kanders and Company, Inc. in July 2012, is globally expanding its current brands while pursuing acquisitions aligned with its mission of "Together, We Save Lives."
Mustang Survival represents the company's first acquisition in the marine and aviation industries.
Mustang President Jim Hartt, who will continue in his current role, commented: "Joining forces with The Safariland Group represents an important step in the global expansion of the Mustang Survival brand."
"We expect to leverage their resources to further drive our innovation in new product development and to take our products to a new level of performance as we expand the reach of our safety equipment to new customers, markets and applications," said the company.
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