Scottsdale, Arizona-based Saf-T -Hammer, a firearm safety equipment manufacturer, is buying gun maker Smith & Wesson from Britain's Tomkins PLC for $15 million (U.S.). The sale was announced May 13 on the Financial Times Web site. "Tomkins' motivation to sell Smith & Wesson as part of its refocused worldwide operation presented an extraordinary opportunity for Saf-T-Hammer," said company chairman Mitchell Saltz in a news release. "Smith & Wesson, a brand name for 147 years, would be at the top of any list of immediately identifiable corporate logos recognized world-wide," said Bob Scott, president of Saf-T-Hammer and former vice president of Smith & Wesson. "We are proud to return this storied company to American ownership . . . we plan to increase the company's revenue through expanded branding activities and strategic acquisitions that will compliment the company's current product lines."