Freedom Group Files for IPO

(Reuters) – Gun maker Freedom Group Inc, controlled by private equity firm Cerberus Capital Management, filed with U.S. regulators on Wednesday to raise up to $200 million in an initial public offering of common stock.

The Madison, North Carolina-based company told the U.S Securities and Exchange Commission in a preliminary prospectus that its predecessor company was formed by Cerberus to acquire Bushmaster Firearms.

Firearms and ammunitions makers including Remington Arms, DPMS Firearms and Marlin Firearms were later acquired to form Freedom Group. The company posted net sales of $427.3 million for the six months ended June 30.

The filing did not reveal how many shares the company planned to sell or under which symbol the company plans to list its stock.

Freedom Group designs, manufactures and markets firearms under brands including Remington, Marlin, Bushmaster, Parker and Nesika. (Reporting by Sayantani Ghosh in Bangalore; Editing by Anne Pallivathuckal)