Slovenian firearms manufacturer AREX has been bought by the Czech Republic-based investment company RSBC.

RSBC is a private investment group founded by Robert Schonfeld, with around €100m in assets, which focuses on investments in real estate, agriculture, industry, and venture capital. It appears that with a number of recent investments RSBC are expanding their defence portfolio. The price RSBC paid for AREX has not been disclosed.

AREX, who manufacture the REX Zero 1 and AKB15, also produce polymer training ammunition and are reportedly a subcontractor for FN. The company currently has around 120 employees and last year had a turn over of €20 million ($23,500,000). With Milmag reporting that 85% of the company’s profits coming from exports.

The company’s former owner Ivan Kralj, who will remain the director of the company, told Dolenjski List – a regional Slovenian news magazine – that “Nothing will change, only the owner has changed.” Kralj explained that “we needed a strategic partner who can help us in obtaining bank guarantees and export licenses.”

A press release from RSBC said:

“We are glad that Mr Ivan Kralj choose RSBC. We have a joint interest in expanding the company and supporting its R&D and business activities. The current development of the geopolitical situation in Europe and certain other regions will place increased demand on the readiness and modernisation of defence forces to facilitate efficient responses to diverse emergency situations. This opens up the potential for further growth of the already strong demand for AREX’s high quality products,” says Roman Cének, the RSBC Group Investment Manager responsible for the project.

James recently visited AREX in Slovenia for a factory tour, you can check that out here.