Originally a family owned business run from Fort Wayne, Indiana, in 2004 Dennis Tippmann Sr. sold a majority ownership stake to Summit Partners, a private equity firm.
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In June 2004, Tippmann announced that the company had completed a financial recapitalization with private equity and venture capital firm Summit Partners.
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They include, for example, the Tippmann X7 and the U.S. Army developed Alpha Black (which resemble an M16), RAP4's T68 Paintball Markers (Which resemble the M4 Carbine, has an internal Air or CO2 tank and is magazine fed), or Smart Parts SP8 (based upon the German Heckler and Koch Prototype XM8, and much of the Armotech product line).