McMillan is in the process of selling off their firearm business, McMillan Firearms Manufacturing, to an unnamed buyer, according to a small announcement posted to their Facebook page.
“Kelly and Ryan McMillan are negotiating the sale of McMillan Firearms Manufacturing. We expect the sale to close within the next 45-60 days,” said the statement. “Both will stay on with the company for an extended length of time as consultants. We expect the new owners to to continue the tradition of the highest quality products and the finest customer service in the industry. Along with the company comes the responsibility to our customers past, present and future and I am quite sure they will continue the traditions that accompany the McMillan name.”
“McMillan Fiberglass Stocks is not for sale and will stay with the McMillan family,” the statement continued. “Obviously everyone can continue to expect the finest stocks on the market with the best customer service. Heck, who knows, maybe we will be able to make some changes that will allow us to get our delivery times back to a more acceptable time frame.”
The high-end rifle manufacturer has a large customer base, not limited to the commercial hunting, target-shooting and competition markets, but also makes rifles for military and police use. Their rifles are popular around the world and are in service by armed forces in Canada, France, Georgia, Israel, Jordan, South Africa, Turkey and of course the U.S.
While McMillan is confident that the new owners of the company will be up to the task of the turnkey sale, for now, with no face to put on the other end of the agreement McMillan users — as well as potential future users — will be on edge until the deal is finished and the remaining details go public.
Kelly McMillan told Guns.com via email that “it would be inappropriate for me to say who the buyer is at this point,” but assured us that it was just one buyer.
Last year McMillan ran into some financial trouble of a new and unusual sort. According to McMillan, their bank, Bank of America, asked them to take their money and put it somewhere else, that they were no longer interested in working with the firearms specialist following their transition from accessory manufacturer to rifle manufacturer.
As a result of leaving Bank of America, McMillan did something interesting. They started their own bank. Specifically, a credit processing service, McMillan Merchant Solutions. Their goal is to be a Second Amendment-friendly company, a safe harbor for gun-funded financial transactions.