Stag Arms Purchased by Gun-Centric Private Equity Firm

Another gun company has been snapped up by a Private Equity firm. This time it is the New Britain-based firearm company Stag Arms that had its FFL license temporarily revoked last year. In December the President and owner Mark Malkowski pled guilty to a misdemeanor charge of failure to maintain firearms records. He was forced to agree to sell the firm and never be involved in owning a firearm company again.

White Wolf Capital, which also owns AR-15 manufacturer Aero Precision and gun accessory maker VG6 Precision apparently snapped up Stag in February.

Despite the legal action late late year, Stag was still at SHOT Show. Hank Strange did an interview with Stag’s compliance officer on the show floor. He claims that an employee, who has since left the company, failed to track firearms coming in and out of their facility and, after being pressed by Hank, admitted Class III firearms were found to be unserialized because an employee was on vacation (and they were busy, and they forgot to do this that and the next thing … many excuses). The interview is worth watching …

What is really interesting is that the Managing Director of White Capital, Mr. Elie Azar, was formally employed by Cerberus Capital Management which acquired Remington, Marlin Bushmaster and other gun companies, rolling them into The Freedom Group, now called The Remington Outdoor Company.

The full press release is …

White Wolf Capital LLC (“White Wolf”) is pleased to announce that it has acquired Stag Arms LLC (“Stag” or the “Company”). Details of the transaction were not disclosed.

Elie Azar, Managing Director of White Wolf, noted, “We are very excited to add Stag to our portfolio of outstanding companies in the firearms industry. Stag is an iconic brand with a well-deserved reputation for product excellence and world-class customer service. We look forward to partnering with Stag’s strong management team and employees to grow the Company through new and innovative product offerings. In addition, we are delighted that Mark Malkowski, Stag’s founder, has agreed to remain engaged with the Company as a consultant. Mark’s deep knowledge of the industry will be invaluable as we build upon the excellent foundation that he put in place.”

Mark Malkowski commented, “It is with great enthusiasm that I hand off ownership of Stag to the White Wolf team. I feel fortunate to be able to transition the business I started from scratch to a team that shares my philosophy and passion for the industry and who recognizes the exceptional capabilities of Stag’s dedicated employees.”

Stag will continue to operate (under a new Federal Firearms License) out of its current facility in New Britain, CT.


Steve Johnson

Founder and Dictator-In-Chief of TFB. A passionate gun owner, a shooting enthusiast and totally tacti-uncool. Favorite first date location: any gun range. Steve can be contacted here.


  • Buzz Killington

    Let us hope the “wolf” doesn’t eat the “stag”.

  • Reef Blastbody

    Given how Aero Precision hasn’t gone completely to crap under White Wolfs ownership, ala Remington under Cerberus, this is a good thing as they can focus on straightening out their manufacturing and QC processes.

    • Rick5555

      From what I heard the people who left Cerberus to form White Wolf. Let due to how Cerberus was ruining everything and thinking of profits to earning ratios only. This result in people leaving Cerberus and wanting to form their own company. But do it right. Profits are important to any company. However, the people at Wolf want the customer to get a great product at a fair price. Also, Aero is the parent company to Ballistic Advantage Barrels. Which are value barrels for AR’s. But surprisingly the barrels where shooting 1.5 moa. Not bad for a Nitride Barrel made from 4150 CMV steel and cost around $115.00 at Aimsurplus dot com.

  • Jwedel1231

    Maybe this White Wolf company will be the opposite of Cerberus & Freedom Group. We can only hope.

    • Edeco

      [hoping intensifies]

    • David Harmon

      Aero is an excellent company, so odds are favorable.

  • Rick5555

    Hey Steve, nice article and thanks for keeping us shooters informed. BTW, a company called Ballistic Advantage makes AR barrels. The parent company to BA is Aero Precision. All of BA barrels are made from 4150 CMV steel and Nitride (inside and outside). These barrels are budget barrels, going for roughly $115 or maybe $120 and can be purchased at Aimsurplus dot com. If possible could you or another author conduct a review on the aforementioned barrels? Though these barrels are value, they are not Cheap per se. I purchased a 16″, 14.5″ and 10.5″ barrel and my results, after 600 rounds in each barrel I was getting 1.5 to 2.0 moa. However, I believe the moa could be better. My shooting fundamentals are solid. But, I’m older (53 yrs) and my skills are not as sharp anymore. But I think a review would do your viewership a great service. Knowing they can purchase a decent, quality and valued priced barrel and not break their bank account.. Hence, people don’t need to spend $350 on a replacement barrel. If your a serious long range shooter looking for precision accuracy. Then these barrels are not for you. Also, KAK Industries has some nice value barrels too. In the same price range, as mentioned above. Just thought doing a review on value priced barrels for AR’s would be a good subject matter. Fun for the reviewer and providing knowledge for your readership. Thanks in advance for any consideration, as well as for ALL the great content this site provides. Respectfully, Dr. Risk S.

  • Donnie Robertson


  • David Harmon

    Glad it went to them and not Freedom Group…