Freedom Group

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Freedom Group
TypePrivate
IndustryFirearms/Sporting Goods
Founded2007[1]
HeadquartersMadison, North Carolina
Key peopleRobert Nardelli (CEO)
Stephen P. Jackson (CFO)
RevenueIncrease US$ 848.7 million (2009)
Net incomeIncrease US$ 24.4 million (2009)[2]
Owner(s)Cerberus Capital Management
Employees2,800
Websitehttp://www.freedom-group.com/
 
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Freedom Group
TypePrivate
IndustryFirearms/Sporting Goods
Founded2007[1]
HeadquartersMadison, North Carolina
Key peopleRobert Nardelli (CEO)
Stephen P. Jackson (CFO)
RevenueIncrease US$ 848.7 million (2009)
Net incomeIncrease US$ 24.4 million (2009)[2]
Owner(s)Cerberus Capital Management
Employees2,800
Websitehttp://www.freedom-group.com/

Freedom Group is an American firearms manufacturer holding company which has acquired notable brands such as Bushmaster, DPMS, and Remington Arms.[3]

Freedom Group is owned by Cerberus Capital Management, a private equity investment firm.

Contents

Companies

History

In March 2012 Robert Nardelli stepped down as CEO of the Freedom Group and as head of the operations and advisory business of Cerberus Capital Management LP and became adviser to Stephen Feinberg, the head and founder of Cerberus. He became CEO of the Freedom Group in September 2010 as the North Carolina-based gun maker searched for a permanent CEO. The new interim chief executive will be George Kollitides, formerly working as managing director for Cerberus who was leading the Freedom Group deal.[5]


In Dec 2012, in response to the Sandy Hook Elementary School shooting, Cerberus announced it would sell all of its investments in Freedom Group. The private equity firm said it would retain a financial adviser to sell its interests in the Freedom Group, and would return the proceeds to investors. [6]

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External links