Lear Siegler was formed as a merger between the Siegler Corporation and Lear Avionics Inc. It was originally based in Southern California. It’s initial growth and expansion was based on the unprecedented boom in Aviation Technology and Aerospace research and development during the 1960’s. During the late 1970’s, Lear Siegler acquired Bangor Punta, another conglomerate of the period which owned Piper Aircraft, Smith and Wesson, and a number of sailboat builders/brands, (CAL, O’day, Ranger, etc.). This was an extremely difficult time for boating related companies in general, due, in part, to recessionary economy, and generally unfavorable market and political forces. Many companies, with the misfortune of being a Lear subsidiary, were subject to it’s strident cost cutting, and didn’t survive. Lear Seigler was itself, acquired by URS Corp. in 2002.