All rights reserved. From the Notice filed with the Bankruptcy Court today: Vista Outdoor, Inc. as the Successful Bidder pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit A with respect to the Lonoke Ammunitions Business and certain IP assets; and SIG Sauer, Inc. as the Backup Bidder thereto pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit B with respect to the Lonoke Ammunitions Business; Roundhill Group, LLC as the Successful Bidder pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit C with respect to the non-Marlin Firearms Business; and Huntsman Holdings, LLC and Century Arms, Inc. as the Backup Bidders thereto pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit D with respect to certain Firearms Business IP assets and Exhibit E with respect to certain non-Marlin Firearms Business inventory, respectively; Sierra Bullets, L.L.C. Need Help?service@guns.comCall (866)582-4867, PO Box 1131 13800 Nicollet Blvd Burnsville, MN 55337 2023Guns.com. 2023 Industrial Media, LLC. We are going to do everything we can to ensure that they get them, and then continue working to get the plant reopened under new ownership as soon as possible.. If these bids are approved, Vista Outdoor will become an even larger player in the civilian ammunition market with the addition of Remingtons ammunition factory in Arkansas. Notify me of follow-up comments by email. The bid is for the gun factory in Ilion, New York, handgun barrel factory in Lenoir, Tennessee, and related other properties. Marlin to Ruger is a good move, they are great with legacy products/IP. This once-great American brand was killed off by accountants and investors that cared only for the dollar and not the customer. My greatest hope is that with their powers and IPs combined, well see some huge changes in bullet technology. Type your email address and well send One of the oldest AR-makers in the country, Bushmaster was purchased by Remington in 2006 and has recently been phased out. Hopeful we'll see some good come out of it. See where Marlin, DPMS, Bushmaster, Tapco, and more ended up. It is unknown if they will keep the old name or market them under the Ruger name. Ive been there, and I sympathize. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. Rick Moriarty covers business news and consumer issues. One was the Roundhill Group LLC, which bought Remingtons non-Marlin firearms business for $13 million, a deal that included two factories. A nice add-on to this would be putting a business analysis on this. Company is located in the register with the Company number LLC2385-2002 and with the national number of State Nevada NV20021021867. According to WKTV Channel 2 Utica (NY), maintenance will begin on the plant in mid-February in preparation for the March 1 restart. They are all life-long hunting advocates and staunch Remington brand loyalists. Sadly, Remington isnt what it once was. Vista Outdoors owns a bunch of other ammo brands so one more is one less layer of diversity, but maybe well see some more ammo on the market soon. They are now identified as an investment company with headquarters in Pennsylvania and Florida. They should be paid no more than the lowest serviceman who is putting his ass on the line. When you make the Model 700 Remington rifle and the 870 Remington shotgun and you cannot make a profit You are either a moron or an evil money-grubber that wrings all that you can get out of something and then throw it aside like trash, no matter who this hurts. . Then go home with no benefits or pension. [1] The company has 14 offices globally in the UK, Germany, the Netherlands, Luxembourg, Spain, Sweden, Ireland, Singapore and the United States. The firm has $512 billion in assets under management as of the latest quarterly report. Our intent with this acquisition is to return the company to its traditional place as an iconic American hunting brand. Copyright 2023 Pew Pew Media, Inc. All rights reserved. I think we should have the same things no matter where we live. [7], According to Reuters, as of October 2013, Vitus's enterprise value was 1.2-1.4 billion euros ($1.6-1.9 billion USD). More than anything, we want to make Remington a household name that is spoken with pride., Edwards added, The Roundhill Group is comprised of a group of individuals all of whom have years of experience in engineering, manufacturing and marketing both in and outside of the firearms space. Since then, BETZ stock has increased by 14.6% and is now trading at $16.40. Kambi's client list, which used to include DraftKings prior to the merger with SBTech, includes Penn National ahead of the expected roll-out Barstool Sports sports betting roll-out. The backup winner for the Remington ammunition plants is Sig! Something like, "In the Midst of the greatest ammo and gun shortage in half a century, Remington goes bankrupt" or "How a legendary arms and ammo manufacturing company couldn't figure out how to make a profit in the midst of the greatest ammo and gun shortage in half a century." Barnes is another huge player in both worlds. The offers said they would receive the same salaries they had been making, but there would be some changes to the health plan and workers would be employed at will, which could deny them due process if they were terminated for any reason. UMWA Local Union 717 has already filed a series of grievances under our collective bargaining agreement, and the UMWA International Union is exploring further legal action. He said the offer to the employees was not conditioned on waiting for these negotiations to be complete. Roundhill Group LLC partner and spokesman, Jeff Edwards addresses these issues: As is known, Roundhill Group LLC and a group of experienced firearms manufacturing and hunting industry professionals is in the process of purchasing Remington Firearms. Vista getting Remington's ammunition manufacturing is a bad deal for the consumers since it creates a monopoly, they already have Federal and CCI, and with less competition, we could have prices increase. Lax LLC purchased only one asset during the current year (a full 12-month tax year). There is a long list of potential law suits. "As is known, Roundhill Group LLC and a group of experienced firearms manufacturing and hunting industry professionals is in the process of purchasing Remington Firearms. Roundhill Group obtained their Federal Firearms License in early January. I cannot find the website for Roundhill Group LLC the company that bought Remington's firearms business. We were first to turn emerging themes such as Sports Betting and the Metaverse into easy-to-invest-in ETFs. However, I suspect the lawyers and plaintiffs in the lawsuit will get nothing from the bankruptcy sale. Ford Vehicles Could Soon Repossess Themselves. it was auctioned off live over the course of many days. He gets a lot of inside info and may be able to help. It's not a group of accountants and money pushers, Edwards said, but people within the hunting industry and people who are passionate about the hunting industry. Owners other than the corporate names? I cant wait for the day when it has the loyalty, prestige and following it once had. Terms and Conditions and Privacy Policy. It is one of the oldest firearms companies and to have this opportunity to invest my time and energy to revitalize the brand that I love and truly believe in is a dream come true. They will work tirelessly to ensure that this company takes its rightful place as the iconic American brand that it was and still is. If we are able to come to terms and we do build a new facility, we will consolidate everything in New York, which will bring the company back to 800 to 1,000 employees, eventually.. Roundhill Group, LLC, an investment company with headquarters in Pennsylvania and Florida announced that it is purchasing Remington Firearms. Learning how to shoot at a young age in the Boy Scouts, David now spends most of his time working on or with firearms. Maybe you should view the AR-556 as Ruger's act of contrition. Just dont shoot as much these days. Can u give names of These will be subject to approval of the court in a hearing to be held on Tuesday, September 29th. We intend to maintain, care for and nurture the brand and all of the dedicated employees who have crafted these products over the years for outdoorsmen and women both here in the USA and abroad. The limited liability company (LLC) is not only a widespread business form for non-listed firms but also is used by listed companies. Seems logical, but theres not a lot of logic in deals as complicated as this. And Still Manufactures their Fine Shotguns & Rifles. I was saving money to buy a new LAR Grizzly when Remington bought them out and would love to have a new version. Indie free Minimalist WordPress Theme developed by Template Express 2023, Type your search keyword, and press enter to search, Remington Outdoor Company Bankruptcy Update, halted a lawsuit brought by the families of some of the Sandy Hook victims. I understand people need jobs to survive, he said. There were twenty publicly traded US LLCs in September 2013all formed in Delaware. Google Shuts Down Its Trash-Sorting Robot Division. It seems they also wanted to buy Marlin but lost to Sturm, Ruger & Co. After spending $170 million dollars to buy Savage last year, you got to wonder just how flush with cash they are to try and bid on Marlin now. They bought the Remington gun factory that builds the once legendary 870 and other shotguns, a handgun barrel factory, and a steam plant parcel. This legal entity was firstly registered on 4th March 2002 under the legal form of Domestic Limited-Liability Company. The purchase includes all long guns, shotguns, pistols, the firearms manufacturing facilities, museum, and gift shop. Reuters stated that month that according to four individuals, Round Hill was considering how to sell Vitus. restaurants in west covina mall restaurants in west covina mall (No Ratings Yet) . Just wait and see.. Weve got a dedicated section for the AR-15 here. Lancaster, PARoundhill Group, LLC, an investment company with headquarters in Pennsylvania and Florida announced that it is purchasing Remington Firearms. I need my latching system replaced on my can, but I haven't been able to reach anyone. Bill Ruger has been dead for 20 years, and Ruger is now run by pro-gun owners. After 200 years in business, gunmaker Remington filed for bankruptcy for the second time in July of 2020. The bid amount listed in court documents is $30 million, a figure that could put Ruger in the lever-action business. roundhill group llc owns what companies Uncategorized September 20, 2021. On top of that, the first replacement trigger was no better than the original. shaka wear graphic tees is candy digital publicly traded ellen lawson wife of ted lawson restaurants in west covina mall. Quality-control problems, rust problems, bankruptcy after bankruptcy, and the Bushmaster-Sandy Hook lawsuit. They are all life-long hunting advocates and staunch Remington brand loyalists. This is hard to believe, wow, the best bolt action the average hunter could afford now history. But the old, failed Remington had one more kick in the pants for our members. [3], In 2007, Round Hill Capital acquired the Vitus Group, a German residential real estate operator with over 30,000 apartments in seven countries. What do you think of the sell-off? We dont need a chance for these dirty politicians to settle in and make a career of robbing the taxpayer. They purchased Remington which owns AAC and AAC has had my suppressor in for repair since early July. When people want representation, they contact many unions that represent others in their area. He lived off a bottle of ketchup and some seasonings. We already have an account registered for email address I know Remlin took a while to get the Marlin line up and running with some better products finally coming out but significant damage to the brand was already done with the first shoddy products. From what I can tell, they are almost exactly what they say they area firm that invests in real estate. Something like that. We have to think back to the Harley Davidson fiasco back in the days when they almost completely with the AMC buy-in. Personalize your experience. I have fired 100s if not thousands of rounds through it and never, never a misfire. The purchase includes all long guns, shotguns, pistols, the firearms manufacturing facilities, museum and giftshop. Free and open company data on Virginia (US) company The Round Hill Group LLC (company number S3855261), 17736 Marbury Circle, Round Hill, Virginia, 20141-0000. Trademarks include that of Panther Arms, Halcyon, and Para-Ordnance. Learn how to leverage transparent company data at scale. Ive got a gun in Ilion. 107. His reason for purchasing Remington Firearms: Remington, to me, represents the Harley Davidsons of the hunting firearms industry. Since then, Roundhill has pursued plans to re-open the plant, but delays caused them to renege on a March plan to bring production workers back in. Got a tip, comment or story idea? Round Hill Development Group | Jupiter FL | Get a Bid publicly traded esports teams - link2feed.com, Will Remington Still Make Guns? Right now if you want a lever-action rifle your main choices are Marlin, Winchester (if you can find one), Henry, Italian-based companies doing reproductions like Uberti, or some very questionable Rossi rifles out of Brazil. Check back to Guns.com for more information as it emerges. Does anyone know who now owns the Para/Para-Ordnance pistol production rights and if such guns are still being made? The Open Database Of The Corporate World. Vista Outdoor Inc. bought the Lonoke based ammunitions business and other IP assets; Roundhill Group LLC bought everything firearms that is non-Marlin; Sierra Bullets LLC bought Barnes ammunitions ; Sturm, Ruger, & Co. bought Marlin firearms Franklin Armory getting Bushmaster will be a good fit for them. Salt manufacturers for high blood pressure? Subscribe to receive the latest information. Where did Remingtons newer factory that builds the 783 go? Is this bad? Earlier in September, I reported that JJE Capital was the stalking horse bidder for Remingtons ammunition business. The logic is so bad it hurts. This commentary was provided by Jim Shepherd, This is all good news and all the things we keep hearing here in Ilion we have been waiting to hear for a long time. As much as we might not like it, Remington has been in the gutter for years. Everyone knows who Ruger is. I dang near killed HD but they rose again from the dung-heap and have been doing great. Had to be total management failure, with a lack of a long term plan of recovery from earlier mistakes. And stay in touch with newsletters of our best articles on techniques, guns, & gear. Thank you. By providing your email, you agree to our. I may earn a small part of the sale from links to any products or services on this site. There is numerous other ammunition companies out there. Get Our Top Shooting Drills and Zeroing Targets ($47 value - but FREE for a limited time). First the company filed for bankruptcy and it looked like the Ilion plant would close for good. I presume they intend for this to be used to provide accessories to be sold in their chain of stores. I think the Ruger/Marlin combination could be good for the Marlin line. Big Green's Ilion, New York, manufacturing facilityalong with its barrel-making plant in Lenoir City, Tennesseehas been sold to Roundhill Group, LLC for $13 million. According to the United Mine Workers, Remington notified the workers over the weekend that their employment would end yesterday. Ilion has always been Remingtons home and we are proud of that history. Its decent ammo, its cheap, and it goes bang. *** JJE Capital Holdings, LLC owns Palmetto State Armory. Any idea who has the parts for shotguns and rifles? Case Evaluation This is the investment firm that in 2019 bought Savage Arms from Vista Outdoors. From the digging I did, they are a property investment firm out of Virginia. Tried several of their products over the years and came to dislike them almost immediately. In fact, as voters, we should vote as if term limits existed. Needle makers for heroin ODs? A 1,498-page Notice of Successful Bidders filed with the court on the morning of Sept. 27, pending a court date later this week, details that America's oldest gunmaker's assets will likely be scattered and absorbed by several other household names. Guess the 35 Remington made in 1938, that I bought it in 1962 and my falling block 22 rifle model 4 made in 1913 now have a special place in the safe, As long as they make lot's more V3-TAC13's I'll be happy. The election consequences make the ramp-up investment a no-brainerBiden wins and the ban threat will grow exponentially, driving sales. Maybe Franklin bought them for the name, maybe they got some manufacturing bits out of it, were not sure yet. i'm very interested to see what comes of the Remington 870. This time for real. Remington had it problems with quality due to corporate greed but they didnt deserve this. Author If one of these companies bought that line maybe they can bring them back to being excellent again. [5], Round Hill Capital has also acquired office buildings across Europe, including eight buildings totalling 2.5 million sq ft in Germany, Belgium, Netherlands and Austria. So what's next for the company now that it is publicly traded? Roundhill Group LLC, the company behind RemArms, purchased Remington's gun factory in the Herkimer County village of Ilion and its handgun barrel factory in Lenoir City, Tennessee, this fall. Lead Generation DIH to Become Publicly Traded via Business Combination with Aurora Technology Acquisition Corp. (NASDAQ: ATAK). Does one of the acquisitions include Remington rifles or is that line now gone? The Roundhill Group LLC bought the gunmaking division with the exception of the Marlin line, which was auctioned to Ruger. As Americans we should be outraged that Remington was allowed to be sued for Sandy Hook! If you dont know who Vista Outdoors is, they are the guys that own almost everything. Like super dead. As far as the Roundhill Group running the Remington line - this could go either way. WHY? Black Economic Alliance Letter, Pronto Cucinino Holcombe, Fiorella Reservations, Apex School Of Theology Transcript Request, Aetna Medicaid Providers, Hunters Point South Crossing, Hid Omnikey 5427 Firmware Update, Yelp Santorini Restaurants, Hawksbill Trading Company, Company has expired at 4th March 2502. Roundhill Group, LLC, an investment company with headquarters in Pennsylvania and Florida, announced that it is purchasing Remington Firearms. Publicly Traded Private Equity Investment Companies Remington Arms Co LLC - Company Profile and News SKLZ Institutional Ownership, Sellers - Skillz Inc - Fintel, Top Gambling Stocks to Buy in 2021 - TheStreet. I think you should have spoken Para's name, even if it did die nearly a decade ago.with the assets being asorbed. I dont know if PSA is building their own handgun barrels in-house for the PSA Dagger, but if they arent then this makes perfect sense to buy. I feel like 2020 is what we all thought the year 2000 was gonna be, Wow. Cookie Settings/Do Not Sell My Personal Information. Roundhill Group, LLC as the Successful Bidder pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit C with respect to the non-Marlin Firearms Business; and Huntsman Holdings, LLC and Century Arms, Inc. as the Backup Bidders thereto pursuant to the terms of the Asset Purchase Agreement attached hereto as Exhibit D with As to which firearm they will start producing first, Shooting Illustrated reports that it will be the 870 shotgun. JJE Capital Holdings, the investment company that owns South Carolina-based Palmetto State Armory, is listed as the successful bidder of Remington's recently shuttered DPMS black rifle brand as well as the H&R, Stormlake, and Parker brands. Last week, the Roundhill Group released a press release which identified their intentions and offered a little glimpse into the future of Ilion's workforce, which has been mostly furloughed for. I strongly believe they would never support the AWB if it happened now. With their ability to make economical options for the masses, I think this could be very beneficial to the people. It was first reported by Dan Zimmerman at TTAG. Community Rules apply to all content you upload or otherwise submit to this site. Now maybe they were just in it to see if they could get something on the cheap or to drive the price up for the competition, but its interesting either way. I dont see how it can as it appears that none of the pre-bankruptcy legal liabilities were assumed by any of the bidders in the bankruptcy auction. Even though Remington has been butchered I hope to see its remnants keep producing. Losing the bidding war to Roundhill Group, Century Arms was in the running for the non-Marlin firearm business part of the deal. I will try and contact Jim Shepherd and see it he has any ideas. Priority 1 Holdings LLC is owned by Douglas Brennan, who also owns investment firm Stellwagen Group, which manages over $1.1 billion in aviation assets through private equity pools. It all sucksthat a great company goes under. The president of the United Mine Workers of America, who for reasons I dont know is the union representing the workers of the Remington plant in Ilion, has said that they have been in talks with Roundhill about the collective bargaining agreement at the factory and that the plant will remain open even after the sale. ** Roundhill Group, LLC specializes in real estate development. Does Remington have stock? Roundhill Group LLC purchased the Ilion operation minus the Marlin line in a bankruptcy sale. Weve built dozens of ARs and well cover all the best AR-15 upgrades such as handguards, triggers, BCGs, gas blocks, and more. View the best growth stocks for 2023 here. Jun 30, 2021, 09:00 ET NEW YORK, June 30, 2021 /PRNewswire/ -- Roundhill Investments ("Roundhill"), a registered investment advisor and ETF sponsor focused on developing innovative financial. Hand-Picked Daily GUN DEALS, and Exclusive Coupons Codes >>>. Remington Outdoor Company filed for bankruptcy in July and announced in October that it was terminating the employment of 585 workers at its Ilion plant effective Oct. 26, and cutting off all their health care and other contractual benefits on Oct. 31. Maybe JJE got it as a package deal, buy 4 brands get 1 free? But what does that mean going forward? Maybe Tapco will be revived and well see some new G2 AK triggers. Lets take a look at who got what piece of the carcass and see if we cant draw some conclusions. This entry was posted on Monday, September 28th, 2020 at 13:00 and is filed under Industry. I've bought their products since I was a kid, and I'm now 77, and I stil have some of their classic guns. The 10/22, the Ruger Precision Rifle, and recently the Wangler are all amazing products brought to us by Ruger. I've had a AAC Blackout Flash Hider, 5.56mm, 56T - 1/2-28 on back order for months. It can reach up to 225 miles per hour in 30 seconds. Edwards, who no. Our intent with this acquisition is to return the company to its traditional place as an iconic American hunting brand. Back in July Remington filed for bankruptcy. Im not sure of their intention for Parker which makes the reproduction Parker shotguns nor what they plan to do with suppressor maker AAC or barrel maker Stormlake. Got a. Again. The only thing I can think of for contact may be through a professional outdoor communicator named Jim Shepherd at info@theoutdoorwire.com. Please select the Tab Content in the Widget Settings. Compare key indexes, including Nasdaq Composite, Nasdaq-100, Dow Jones Industrial & more. I was with International Union of Operating Engineers in Michigan and we represented custodians, secretaries, nurses, police in addition to maintenance people and Stationary Operating Engineers. I wonder how long I'll have to wait before things start appearing at PSA? I expect this means well see Tapco parts and accessories making a comeback soon. The Unions hot because it says the companys collective bargaining agreement calls for it to pay severance and accrued vacation benefits. I could certainly have done better! Home. Just Hope the Custom Gun Shop can make me a Fine Grade 11-87 SPS. When I was there the motto was quantity not quality i knew when I was there this day was coming sooner than later. So many good things about that platform that could have been leveraged by a company willing to follow through with the product that the market actually wanted. I like the ruger marlin deal. Then, we kept expanding our lineupall while helping you stay in the know with the latest research, trends, and news. More than anything we want to make Remington a household name that is spoken with pride.. This is speculation on my part, but there are probably too many secured creditors that are owed too much to leave anything for an unliquidated, unsecured tort claim. Wish I could help more, dang it. Round Hill Asset Management is an investment management firm (RIA) serving both individual and institutional investors. Eh really too soon to tell. Only time will tell. The main takeaway regarding Roundhill Group and its view of how Remington should be run is pretty simple. With this acquisition have come many industry questions and rumors. But Im wary about this one. "Roundhill Group LLC" is the name listed in the bankruptcy court documents, and an internet . I am limited to three, but hope that all changes soon. Best of luck, sir. The price was well below the scarcity-highs that are currently typical.
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