Bushmaster Sold to NY Investment Firm!!

Len-2A Training

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From Bushmaster's Website, dated 4/14/05:
http://www.bushmaster.com/documents/news/bushmaster_continues_to_grow_.asp

Bushmaster Continues to Grow with New Owner

Windham, ME--April 14, 2006--We are very pleased to announce another important step in the growth of Bushmaster Firearms. The business of Bushmaster Firearms, Inc. has been acquired by an affiliate of Cerberus Capital Management, L.P.

Cerberus and its affiliated entities, headquartered in New York, manage funds and accounts with capital in excess of $18 Billion. The new company will be called Bushmaster Firearms International, LLC and its primary operations will remain in Windham, Maine and Lake Havasu City, Arizona. We will continue our 28 year history of commitment to providing high quality, affordable firearms, parts and accessories for Consumer, Law Enforcement, Military and International Customers. The new owners are committed to this company and these markets.

John DeSantis will continue as the CEO of the new company, and Richard Thurston and Allen Faraday will continue in their current roles as senior executives of Bushmaster. Chad Brooks will be joining Bushmaster as Chief Operating Officer. The new company will strive to capitalize on Bushmaster’s premier market position, and will continue to grow the business. Richard Dyke will serve on the Board of Directors.

As we continue to grow, we hope that you share our excitement about Bushmaster’s future, and our ongoing efforts to serve our customers with the highest quality products, the most responsive customer service, and the best delivery in the industry.



Sincerely,

John DeSantis, CEO
Bushmaster Firearms International, LLC

###
 
Why am I automatically suspicious of any NY based firm buying a gun manufacturer?

This does not sound bad, but somehow I am real suspicious that given 3-5 years a lot will change and perhaps they will stop all civilian sales or some other non-gun-friendly policies!

I hope I'm wrong, but I have a bad feeling about this.
 
I am not sure how to feel. We must remember that there are quite a few gun maker's in NY, Remington and Kimber come to mind right away. We will have to see. I don't think any gun manufacturer that wants to stay in business can rely only on LE/Military sales, but I could be wrong. We will have to wait and see.
 
LenS said:
Why am I automatically suspicious of any NY based firm buying a gun manufacturer?

This does not sound bad, but somehow I am real suspicious that given 3-5 years a lot will change and perhaps they will stop all civilian sales or some other non-gun-friendly policies!

I hope I'm wrong, but I have a bad feeling about this.

That could be a moot point.

I'm more concerned that in 3-5 years that a "new and improved" federal AWB could pass (or a CA style AWB in MA), and civilian sales of any EBR by any manufacturer would be prohibited.
 
03, perhaps I should qualify my statement.

New statement follows:
I am suspicious of a gun manufacturer being bought out by a NON-Gun firm in NY. Even more suspicious when it is bought by an investment firm only interested in turning over a quick buck and kow-towing to Wall Street!

The above does better reflect my true feelings in the matter.
 
LenS

I see where you are coming from. I was not trying to refute your previous statement, just basically play the same opinion from a different stand point. I think it may be too early to start to worry, since nothing has come of it yet. Then again, if we wait for something to come of it before we start to worry, it would probably be too late.

I am now starting to not like the sound of it either. Damn.
 
03,

No apology needed. Sometimes my replies are too short to really express what I'm trying to say. Your counterpoint was right on and told me that I needed to clarify my statement.
 
My hope is that they will finally stop marketing their “DCM” rifles. The DCM went the way of the dodo almost 10 years ago and became the CMP. At least call it a CMP rifle.

Talk about behind the power curve.


Brian
 
Some updated info...


Dyke sells Bushmaster Firearms
By John Balentine

WINDHAM (April 21, 2006): Windham native Dick Dyke, owner of Bushmaster Firearms, Inc. in North Windham, sold his 28-year-old gun manufacturing company last Thursday for an undisclosed sum.

The new owner is Cerberus Capital Management, L.P., a company that has $18 billion in investment assets. Dyke, 72, will remain involved in the business as a member of the board of directors.

Dyke said he sold Bushmaster, which did $65 million in business last year, for the good of the company, his family and the stockholders.

"Bushmaster has the potential of becoming a $200-million-a-year company. For the Dyke family to lead that, a little voice told me that it was just time to turn over the reins for the benefit of everyone," Dyke said. "I just know a company like Cerberus has the ability to do the things Dick Dyke doesn't have the means to do."

The new owners say they are dedicated to keeping Bushmaster and its 95 employees at the Windham Business Park, located near the Raymond town line. Dyke said he owns the park, and Bushmaster has signed a five-year lease for the property. Bushmaster's second manufacturing facility, located in Lake Havasu City, Nevada, will also stay open.

Complete article...
http://www.keepmecurrent.com/Business/story.cfm?storyID=17735
 
"Bushmaster has the potential of becoming a $200-million-a-year company.

Cerberus has the ability to do the things Dick Dyke doesn't have the means to do."

The new owners say they are dedicated to keeping Bushmaster and its 95 employees Bushmaster's second manufacturing facility, located in Lake Havasu City, Nevada, will also stay open.

Roughly translated, they will keep their present employees on long enough to learn their tribal knowledge and then in an attempt to become uber profitable will begin offshoring its production to china and india.
 
SnakeEye, not real likely as the US Gov gives everyone a real hard time about importing WMD! [rolleyes]

More likely they will eventually close up ME and move to a non-union, cheap to do business in, Southern state (perhaps tap that $4/hr cheap Mexican illegal labor pool). [sad]
 
Bushmaster

That's when their sales drop off and evryone move to another product that is exactly like bushmaster. They don't make anything that is unique. I can just as easily purchase a RRA and get the same or better quality so why buy something made overseas or by cheap and untalented labor.[smile]
 
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