http://online.wsj.com/article/SB125599020732295081.html?mod=WSJ_hpp_sections_business
First part of the article.
First part of the article.
After bad bets on cars and home loans, Cerberus Capital Management is turning to guns and bullets.
The private-equity firm is in advanced preparations for an initial public offering of Freedom Group Inc., said people familiar with the situation, hoping to sell shares in a little-known company it has built into a dominant player in the red-hot rifle-and-ammunition business.
Over a three-year span, Cerberus -- while under the spotlight for ill-fated acquisitions of auto maker Chrysler LLC and lender GMAC LLC -- has acquired at least seven U.S. gun-and-ammunition makers.
Those companies have been consolidated into a Madison, N.C.-based company called Freedom Group Inc. It is on track to generate about $900 million in sales this year, according to a person familiar with the results. That makes Freedom one of the world's largest manufacturers of firearms and ammunition.