Suddenly Remington was carrying hundreds of millions of dollars in debt that, if it could not be paid, would cause the business to go bankrupt. In March 2012, Nardelli stepped down as CEO of Freedom Group and head of the operations and advisory business of Cerberus Capital Management and became adviser to Stephen Feinberg, the head and founder of Cerberus. Someone got on my case a while ago because I made light of the quality issues with Remington, and for pointing a finger at the workers. In 2012, more or less in the middle of the best climate for gun makers in a generation, America’s oldest continually operating manufacturer abruptly, and for no easily discernible reason, borrowed hundreds of millions of dollars. Cerberus sold off Remington to Franklin Templeton and JP Morgan. It was during the late nineties and the early 2000s that Remington started to really acquire a debt load due to slumping sales. As was noted on AllOutdoor, Ruger has acquired Marlin, which is terrific news for the lever gun enthusiast. First, in 2006, it purchased Bushmaster, known for its AR-15-style rifles. This included Marlin, Bushmaster, DPMS, H&R, Tapco, AAC and more. Second, starting immediately, it had to pay those employees a minimum average hourly wage of $19.50, rising to $20.19 in 2017. I actually was close to buying a brand-new 20-gauge 870 because of the deal on it, only to have the internals basically fall out when we assembled it in the store. Now if you do some digging you will see that The Freedom Group is owned by a company called Cerberus Capital Management. Dyncorp International LLC has 9 employees at this location. Longpoint Capital tripled its investment in Savage Sports, which makes rifles … Posted 2 days ago. Together, the companies it owns generate annual revenue of about $40 billion — more than … There are 269 companies in the Dyncorp International LLC corporate family. *This posting is on behalf of one of Cerberus's portfolio companies located in the Washington, D.C.…See this and similar jobs on LinkedIn. Instead of Cerberus buying a gun company, Cerberus put money into the holding company, and the holding company bought Remington. Some investment firms only care about the investment, as you would expect, and less about the product. Cerberus had never owned a gun company, but it thought it could provide Bushmaster with a classic private-equity solution: tighter management and a tie-up with similar companies. Ruger Acquires Marlin Firearms For $30 Million, The New ITS TraumaQuick Rapid Access System Trauma Kit, Federal Introduces New FireStick to Revolutionize Muzzleloader Hunting, AllOutdoor Review: Springfield Armory Saint Victor 308 Pistol, Marlin ‘Remlin’ 1894 CS 38/357 Video Review, Review: Savage Renegauge Semi-Auto 12 Gauge Shotgun, AllOutdoor Field Strip: Springfield Armory M1A Tanker, Ian Takes a Taurus Curve to a Pistol Match, Stan Zuray of Yukon Men Moving a Pickup Truck on a Log Raft, 12-Year-Old Suspended for Having a Toy Gun in his Home, NEW Springfield Armory Model 2020 Waypoint BOLT-ACTION Rifle, Champion Targets Sponsors Kids & Clays to Help Families, American Built Arms B-14 SA MOD*X GEN III Modular Rifle System, American Tactical Introduces New FXH-45M Moxie 1911, AGM Global Vision Announces Huge Partnership Expansion, What You Need to Know About the new ‘America’s Conservation Enhancement (ACE) Act’, Remington Buyers REVEALED – The Cards have Fallen & are Divvied Up, AllOutdoor Review: XS Sights Big Dot Tritium Orange for a Mossberg 500, Home On The Range #006: How to DOUBLE your Compost Heat Benefits, Jerry Miculek Proclaims Himself ‘King of Full Auto Friday’, Into the Wild: 5 Extreme Places You Can Go with ARGO, Review of Streamlight Waypoint 300 Rechargeable Handheld Spotlight, Inside the Mind of a Burglar:  UNC Study Shares Valuable Info for Home, Work, Otis Partners with GoWild to Expand Product Availability. This included Marlin, Bushmaster, DPMS, H&R, Tapco, AAC and more. “It is outrageous that Cerberus has not fulfilled its commitment to sell its holdings in gun manufacturers.