Kaspar Companies

What Kaspar Companies does

Kaspar Companies is a fifth-generation, family-owned holding company founded in 1898 and headquartered in Shiner, Texas, that operates eight subsidiaries across four verticals: precious metals (Texas Precious Metals, Texas Mint, and the Texas Precious Metals Depository), outdoors and firearms (Horizon Firearms, Iota Outdoors, Stiller Actions, and Texas Ammunition, grouped under Kaspar Outdoors), Western equestrian (Circle Y, Tucker, and Reinsman under Circle Brands), and heavy-duty truck beds (Bedrock). The portfolio combines vertically integrated commodity businesses with branded specialty manufacturing: Texas Precious Metals operates as a market maker for gold and silver bullion and runs the largest precious metals depository in Texas with $5 billion in customer deposits, while the manufacturing subsidiaries rely on precision engineering, patented designs (e.g., Bedrock's Headache Rack and QUAD Bed System, the Kaselco electrocoagulation wastewater treatment system, Horizon's ZEROlight anti-cant device), and hand craftsmanship (Circle Y saddles are handmade in Yoakum, Texas).

The business model is primarily direct-to-consumer e-commerce across 11 owned storefronts, supplemented by wholesale distribution (notably for ammunition brands Hornady, Federal, and Norma) and a managed depository/storage revenue stream. Revenue is generated through one-time product sales (truck beds, saddles, rifles, rifle actions, ammunition), precious metals transactions with low premiums, depository storage fees, and licensing/royalty income from custom-minted bullion for partners such as Texas A&M University and the Professional Rodeo Cowboys Association. Customer segments span retail consumers, small/mid-market wholesale buyers, and institutional precious metals investors, with end-customers concentrated in U.S. hunters, shooters, equestrians, truck owners, and precious metals investors. Customer service is a stated differentiator across all brands, paired with no-ordering-limits policies, fast shipping, and product-level guarantees (e.g., Horizon's .5 MOA accuracy guarantee, Bedrock's 3-year/36,000-mile warranty).

The company is privately held by the Kaspar family, led by CEO Jason Kaspar (summa cum laude Texas A&M, prior roles at Highland Capital and FTI Consulting) and Chairman David Kaspar, with a board that includes independent directors with DuPont, Koch Industries, and Newfield Exploration backgrounds. There is no disclosed institutional equity ownership, and the firm has grown through a combination of organic reinvestment and acquisitions (notably Stiller Actions in 2021 and the Circle Brands portfolio in 2023), with international depository expansion into Switzerland and the Cayman Islands announced in 2024.

Name

Kaspar Companies

Legal name

Kaspar Companies

Website

https://kasparcompanies.com

Company type

Private

Founded year

1898

Operating status

Operating

Headcount range

101–250 employees

Short description

Kaspar Companies is a fifth-generation, family-owned holding company based in Shiner, Texas, operating eight subsidiaries across precious metals, firearms, equestrian, and heavy-duty truck bed industries, serving U.S. consumers and businesses primarily through direct-to-consumer e-commerce and wholesale channels.

Ownership category

akta.pro rank

Product category

Diversified Industrial Manufacturing

NAICS

Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers (423940), Sporting and Recreational Goods and Supplies Merchant Wholesalers (423910)

SIC

Wholesale-Jewelry, Watches, Precious Stones & Metals (5094), Commodity Contracts Brokers & Dealers (6221)

akta.pro industry

PRIMARYCRAMAKAA

Firearms & Ammunition Retail

Consumer Products & Retail/Sporting Goods & Outdoor Retail/Hunting, Shooting & Archery Retail

SECONDARYIMAKAJAF

Industrial Minerals Trading (Phosphate, Potash, Sulfur, Borates, Barite, Talc)

Industrials, Manufacturing & Construction/Metals & Mining/Metal & Mineral Trading, Marketing & Distribution

Keywords

• Precious metals trading
• Custom rifle manufacturing
• Equestrian saddle making
• Heavy-duty truck beds
• Ammunition retail

Headquarters

HQ city

Shiner

HQ country

United States

HQ region

North America

Offices5 records

Markets served

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Ammunition Retail: Texas Ammunition operates as an online ammunition retailer offering hunting rounds, handgun ammunition, and distributes name brands like Hornady, Federal, Norma along with custom TX.AMMO brand hunting rounds
2. Precious Metals Sales: Texas Precious Metals is a vertically-integrated commodities business acting as a market maker for gold and silver coins and bars, servicing retail, wholesale, and institutional clients through texmetals.com
3. Depository Services: Texas Precious Metals Depository (TPMD) offers storage services for precious metals with no hidden fees for account opening, deposits, withdrawals, or viewing metals. Largest precious metals depository in Texas by size and value.
4. Custom Minting (Texas Mint): Custom-minted products under Texas Mint brand, producing licensed products for Texas A&M University, Professional Rodeo Cowboys Association, and other partners. Offers .999 and .9999 fine gold and silver bullion.
5. Handmade Saddles: Circle Y produces handmade saddles in Yoakum, Texas for various Western disciplines using both traditional craftsmanship and modern technology
6. Premium Trail Saddles: Tucker Trail has meticulously crafted saddles for the serious trail rider for 45 years with innovative designs
7. Equestrian Accessories: Reinsman produces bits, saddle pads, and equestrian accessories since 1993, helping riders enhance communication with their horses
8. Custom Rifles: Horizon Firearms creates superior custom long-range, bolt-action rifles that are tailor-made, guaranteed to shoot .5 MOA. Also offers semi-custom rifles and rebarrels.
9. Precision Rifle Actions: Stiller Actions produces precision custom rifle actions with unmatched machining tolerances, known as originator of custom clone actions
10. Rifle Accessories: Iota Outdoors produces cutting-edge rifle accessories including stocks, anti-cant devices, and scope mounts
11. Heavy-Duty Truck Beds: BEDROCK Truck Beds produces patented heavy-duty truck beds with innovative headache rack and versatile QUAD bed, backed by 3-year, 36,000-mile warranty

Pricing tiers

Go-to-market motion9 records

Distribution channels6 records

Marketing channels4 records

Core offering

Kaspar Companies is a fifth-generation family-owned holding company founded in 1898 and headquartered in Shiner, Texas, that operates eight wholly-owned subsidiaries manufacturing and selling physical products across multiple industries. The portfolio includes precious metals trading, custom minting, and depository services (Texas Precious Metals / Texas Mint), online ammunition retail (Texas Ammunition), heavy-duty truck equipment (Bedrock Truck Beds), custom long-range rifles (Horizon Firearms), precision rifle actions (Stiller Actions), rifle accessories (Iota Outdoors), and Western equestrian gear including saddles and tack (Circle Y, Tucker Trail Saddles, Reinsman under Circle Brands).

Product overview

Kaspar Companies is a diversified holding company operating eight subsidiaries across multiple industries. The portfolio includes Texas Precious Metals (gold and silver bullion dealer with its Texas Mint custom-minting brand and TPMD depository), Kaspar Outdoors (encompassing Horizon Firearms custom rifles, Iota Outdoors rifle accessories, Stiller Actions precision rifle actions, and Texas Ammunition ammunition retailer), Circle Brands equestrian gear (Circle Y handmade saddles, Reinsman bits and pads, Tucker Trail saddles), and Bedrock Truck Beds. The company operates as a platform of independent but affiliated brands unified by shared values of quality American workmanship.

Differentiator

Problem solved

Functional benefit

Brands

• Kaspar Outdoors: Parent company division encompassing outdoor products including firearms, ammunition, rifle accessories, and precision rifle actions.
• Circle Brands
• Texas Precious Metals
• Bedrock Truck Beds
• Horizon Firearms
• Iota Outdoors
• Stiller Actions
• Texas Ammunition
• Circle Y
• Tucker
• Reinsman
• Texas Mint

Products and services

• Texas Precious Metals Bullion Gold, silver, and precious metals bullion dealer selling investment-grade bars, coins, and rounds to retail and wholesale customers, with international shipping.
• Texas Mint Custom Minting Custom precious metals minting service enabling clients to design and produce bespoke gold and silver rounds, bars, and commemorative pieces for personal, corporate, or promotional use.
• Texas Precious Metals Depository Secure vault and storage service for customer-owned precious metals bullion, providing segregated, insured storage.
• Texas Ammunition Online retailer of ammunition cartridges sold direct to sportsmen, hunters, and recreational shooters.
• Bedrock Truck Beds Heavy-duty aftermarket and replacement truck beds, headache racks, and bed accessories for pickup trucks, serving ranch, commercial fleet, and consumer markets.
• Horizon Firearms Custom Rifles Custom-built long-range and precision rifles tailored to individual shooter specifications, serving hunters, competitors, and precision shooting enthusiasts.
• Stiller Actions Rifle Actions Precision aftermarket and custom rifle actions (the core serialized receiver/action component) sold to rifle builders, gunsmiths, and custom rifle manufacturers.
• Iota Outdoors Rifle Accessories Rifle accessories and shooting aids, including the ZEROlight anti-cant device, designed for precision shooters and hunters.
• Circle Y Saddles Handmade Western and performance saddles, including barrel racing, roping, cutting, and trail models, sold to equestrian riders and competitors.
• Tucker Trail Saddles Trail and endurance saddles designed for long-distance and recreational trail riders, distributed through authorized dealers.
• Reinsman Equestrian Products Equestrian bits, saddle pads, cinches, and horse tack accessories sold to riders, trainers, and equestrian retailers.

Quantifiable outcome

• 500% revenue growth in 2023 during precious metals super cycle
• +3 more outcomes

Named customers8 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Pro RodeocoreStrategic or Co-development Partner · 1 January 2024Texas Precious Metals has a partnership with Pro Rodeo (Professional Rodeo Cowboys Association), producing licensed products under Texas Mint brand including rodeo-themed silver rounds and collectibles.
• Texas A&M UniversitycoreStrategic or Co-development PartnerTexas Mint produces licensed products for Texas A&M University including silver rounds. Texas Precious Metals was recognized as the No. 1 fastest growing Aggie-owned business in the world.
• UPS Capital Customer Advisory BoardminorStrategic or Co-development PartnerTarek Saab, CEO of Texas Precious Metals, has served as a member of the Customer Advisory Board (CAB) for UPS Capital since 2019.
• Swiss Depository PartnersminorChannel Partner/ Reseller/ DistributorTexas Precious Metals is pursuing geographic expansion with satellite depositories in Switzerland as part of international expansion plans.
• Cayman Islands Depository PartnersminorChannel Partner/ Reseller/ DistributorTexas Precious Metals is pursuing geographic expansion with satellite depositories in the Cayman Islands as part of international expansion plans.
• HornadycoreChannel Partner/ Reseller/ DistributorTexas Ammunition distributes Hornady brand ammunition as part of their product offering alongside custom TX.AMMO brand hunting rounds.
• FederalcoreChannel Partner/ Reseller/ DistributorTexas Ammunition distributes Federal brand ammunition as part of their product offering alongside custom TX.AMMO brand hunting rounds.
• NormacoreChannel Partner/ Reseller/ DistributorTexas Ammunition distributes Norma brand ammunition as part of their product offering alongside custom TX.AMMO brand hunting rounds.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Smith & Wesson Brands: Large U.S. firearms manufacturer serving hunting, sport, and law enforcement markets; comparable broad category peer to Kaspar's firearms and ammunition subsidiaries.
• Sturm, Ruger & Co. Public firearms manufacturer with strong precision rifle and hunting offerings; comparable to Horizon Firearms' and Stiller Actions' precision rifle businesses, though at much greater scale.
• Vista Outdoor: Public outdoor sporting products conglomerate owning ammunition brands (Federal, Speer) and related accessories; overlaps with Kaspar Outdoors portfolio of ammunition, firearms components, and shooting accessories.
• Ariat International: Leading Western and equestrian footwear/apparel brand with broad national distribution; competes with Circle Brands for the Western riding consumer wallet.

Direct peers

• APMEX: One of the largest online precious metals dealers in the U.S., directly comparable to Texas Precious Metals in selling gold/silver bullion to retail and wholesale buyers with a vertically integrated e-commerce platform.
• JM Bullion: Major online gold and silver bullion retailer competing head-to-head with Texas Precious Metals on premium pricing, selection, and shipping speed for retail and wholesale customers.
• SD Bullion: Online precious metals dealer with similar low-premium, fast-shipping value proposition to Texas Precious Metals, serving retail and institutional precious metals investors.
• Justin Brands: Western footwear and equestrian brand under Berkshire Hathaway-owned Justin Industries; directly comparable to Circle Y, Tucker, and Reinsman as a Western lifestyle and equestrian products maker.
• Ranch Hand Truck Accessories: Heavy-duty truck bumper and accessory maker and the sister company of BEDROCK Truck Beds; directly comparable in serving Texas ranchers and truck owners seeking rugged, American-made work truck equipment.

Others

• Berkshire Hathaway: Diversified, family-influenced holding company model (though vastly larger); thematically comparable as a long-term, decentralized holding company of operating subsidiaries across unrelated industries.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/kasparcompanies
• LinkedInlinkedin.com/company/kaspar-companies

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kaspar Companies