The maker of the gun used to kill 19 children and two teachers in Texas won't be at the meeting.
Steve Reed, a spokesman for the Georgia-based company, said in an email that Daniel Defense is skipping the gathering due to the horrifying tragedy in Uvalde, Texas where one of their products was criminally used.
Texas Governor Greg Abbott dropped plans to address the gun lobby in person after the worst US school shooting in almost a decade.
Marty Daniel founded Daniel Defense more than 20 years ago. He started the business in 1999 after a friend invited him to shoot his rifle, according to the company's website.
As of 2020, the privately held, family-owned company was likely worth about $120 million, with $78.7 million in revenue and an earnings margin of 10%, according to data provider PrivCo. The company made Inc. Magazine's list of America's fastest-growing companies in three of the last four years.
A Navy Postgraduate School report shows that Daniel Defense sold over 30,000 M4/AR-15s in 2013.
Daniel said in an interview with Forbes that sales increased in 2012 because of the Sandy Hook massacre.
When politicians talk about gun control, people go out and buy guns, because they have this fear.
The US government gave Daniel Defense money. It received more than $3 million from the federal Paycheck Protection Program, the highest amount among recipients in Bryan County, Georgia.
The company was awarded a $9.1 million contract by the Defense Department in March for work that is expected to be completed by 2027.
The company released a statement after the massacre in Uvalde.
The spokesman said that they would cooperate with all federal, state, and local law enforcement authorities in their investigations.
Daniel and his wife, Cindy, were not reachable.
The couple took a photo with Donald Trump Jr. at the SHOT Show. In an interview with Forbes, Daniel said that he voted for Ted Cruz in the GOP presidential primary, but was behind Donald Trump when he won the nomination.
The family's wealth is not publicly available. Daniel is the executive director and principal officer of Assets For Christ, which is a tax-exempt corporation with the same address as the gun manufacturer.
According to an Internal Revenue Service filing, the organization had about $1.8 million of assets as of April 2020.
Daniel Defense consolidated its operations in Georgia several years ago after it split its operations between Black Creek and South Carolina.
Last year, firearms manufacturer Remington announced it would relocate its headquarters from upstate New York to Georgia.
(Updates with PPP money starting in ninth paragraph)
All Rights Reserved © 2024
