Please, Please Buy This Gun Company

Gun-control supporters have wondered about the opportunities to be found in Remington’s bankruptcy. Remington Outdoor, one of the country’s oldest and largest gun makers, is getting ready to emerge from bankruptcy. The question is whether somebody — anybody — will buy the company , especially at such a politically and emotionally polarized time for the gun industry. The usual suspects of potential buyers are circling, including rival gun manufacturers like Sturm, Ruger & Company and some small financiers willing to accept whatever criticism would come from buying Remington. More tantalizing is a pie-in-the-sky idea: whether a beneficent billionaire , like Michael R. Bloomberg, could buy the company and either try to transform it or shut it down — a sort of philanthropic euthanasia in the name of gun control. Yet all of those options have challenges. So here’s a practical idea that should be considered more than just a thought experiment: What if the big banks that have provided financing to Remington during its bankruptcy were to back — and partner with — one or more of the big private equity firms in an effort to transform the company into the most advanced and responsible gun manufacturer in the country? After all, virtually all the banks have a “social impact” unit or at least an initiative meant to “do good.” And so do many private equity firms, like TPG and Bain Capital. And they would not be out to kill the business; quite the opposite: They could create a […]

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