Since Ocean Partners bought Bushnell, it's been in a downhill slide. It's a metals conglomerate that's expanding its holdings and doesn't seem to grasp the finer points, ramifications & vicissitudes of quality optics design.....sad. The last Elite I had a chance to try before the takeover was a 10x43 Elite, and it was fine indeed. I stated once before that had I not just jumped over the side and bought a 10x FL, that Bushnell woulda left the store with me, posthaste....
I since tried an E2 in 10x and found it to be decidedly midpack, or lower. It appears that the best they have to offer these days is the Ultra HD, which by reviews here and elsewhere, seems to be passable.
The Bushnell Elite E2 is priced at $419 at binoculars.com so it's supposed to be "midpack" and was not designed to be competitive with top o' the line Bushnell/B&L Elite. But needles to Bushnell marketing execs for trying to upgrade the bins' status by giving it the "Elite" moniker. They did the same thing to the 7x26 Custom.
It's like Nikon now calling both the Monarch X and the Action EX "ATB" and the Nikon SE "Premier SE". Sometimes companies trip over their own feet by adopting a "class name" and making the nomenclature confusing.
The name of the company that bought Bushnell is MidOcean Partners, "a private equity firm specializing in leveraged buyouts, recapitalizations and growth capital investments in middle-market companies. The firm has historically focused on investments in middle market companies in four core industries including business services; consumer and leisure companies, media and niche industrial services."
Here's more:
"MidOcean was originally formed by the managers of DB Capital Partners to acquire Deutsche Bank's late stage private equity investments in the United States and Europe in one of the largest private equity secondary transactions completed to date."
They are in the business of buying and recapitalizing companies with cash flow problems, including Deutsche Bank, but as far as I can tell, they are not bankers and don't actually manufacture anything themselves, not optics, metal, etc.
Thus, I would imagine they retained Bushnell's optics engineers since these investors don't have that expertise and perhaps they retained some of the management team.
They seem to be indirectly involved in products development since they state on their Website:
"MidOcean Partners adds value to each portfolio company by providing input into long-term strategic direction, operational insight, organic growth opportunities, and strategic acquisitions ideas."
One of those acquisition ideas was for Bushnell to buy Simmons Optics in 2008.
So Bushnell is poised to become a two-tier optics company again, but whether or not they will depends on the direction the execs at MidOcean decide, which my guess will be the best way to grow the company so they can sell it at a profit at some point in the future after the global economy picks up. Whether that means selling plastic wrapped bins at Walmart or a new top drawer Elite or both remains to be seen.
But I wouldn't write them off just yet. The B&L Elites were highly regarded in their time so despite the stigma attached to their new nameplate (Bushnell), the Elite has the capability of competing with high quality binoculars. The premium market segment is small with stiff competition, but the second tier is growing, and as alpha prices move beyond many people's budgets, there will be room for a new, high quality "Elite" to compete in that growing segment.
Here's MidOcean's Website:
http://www.midoceanpartners.com/
Brock