For Immediate Release:  Friday, June 27, 2003

For More Information: Mary Lehecka Nelson, 773-5032

Dakota Arms merges with Nesika

(Pierre) –Governor Mike Rounds announced today that the firearm industry in Sturgis continues to grow as Dakota Arms, Inc. of Sturgis and Nesika Bay Precision, Inc. of Poulsbo, Washington have merged.

“It will result in at least 10 new jobs in the Sturgis area,” Gov. Rounds said. “Dakota Arms is a rock solid company that has been a leading ambassador in the firearms industry for years. We are thrilled that it is joining forces with a world class company like Nesika.”

Dakota Arms is well known for manufacturing high-quality custom rifles and Nesika’s precision actions and rifles are known for their extreme accuracy. 

This merger announcement came just weeks after Dakota Arms secured a multi-million dollar private investment.  The new largest investor is Technology Funding Venture Partners of California and New Mexico. 

“I'm pleased that the outstanding reputation of Dakota Arms has attracted this type of investment.  I commend the investors for strengthening Dakota Arms and we look forward to working with them to further develop the firearms industry in South Dakota," Gov. Rounds said.

President of Dakota Arms Norma Allen said she is pleased with the growth Dakota Arms is experiencing. “The market response to our products has been extremely positive. This commitment of new capital reinforces our premier position in high-quality firearms and allows us to accelerate our growth,” Allen said.

Chairman of Dakota Arms and managing general partner of Technology Funding, Charles Kokesh, said the merger was a perfect fit.  “Nesika’s reputation is above reproach. Both firms are known for building top-quality firearms and both have a very loyal clientele.  The combination of talent, skill and resources will allow each company to grow much more rapidly,” Kokesh said.

According to Sturgis Industrial Expansion Corporation executive director Ron Rosenboom, SIEC is excited about the new merger.  “The merger provides an opportunity for growth and expansion of a company that has been an anchor for the shooting and hunting industry in Sturgis and the Black Hills,” he added.

Gov. Rounds said that South Dakota will continue to pursue companies in the firearm industry. “Just as Dakota Arms and Nesika are a great fit, the firearm industry is a great fit for South Dakota. Our state has always been a friend to the firearm manufacturing industry and we look forward to seeing Dakota Arms-Nesika, along with other firearm manufacturers, prosper in South Dakota.”

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