Freedom Group had previously purchased Marlin Firearms and DPMS Panther Arms in 2007. Since 2007, Remington Arms had been part of the Remington Outdoor Company (ROC NYSE), which is owned by Cerberus Capital Management. Remington is Para USA's immediate corporate parent. In January 2012, Para USA was acquired to become a part of the Freedom Group, a consortium of firearms manufacturers owned by Cerberus Capital Management, a New York private equity investment firm. Eventually, Para Ordnance moved to North Carolina and became a totally U.S. subsidiary ( Para USA) would be set up in Pineville, North Carolina. In January 2009, it was announced that the U.S. When last reported, the company was estimated to have an annual revenue of over 9 million dollars and employ a staff of 60. had a factory in Markham, Ontario, Canada. The company's first product was a plastic paintball gun, the Model 85 "Dye Marking Tactical Machine Pistol", designed for police and military training purposes. On March 28, 2007, Ted Szabo died at the age of 60. Polyzos was born in Greece and later emigrated to Canada. Szabo was born in Hungary and his family fled the country when the Soviets invaded during the Hungarian Revolution in 1956. Para-Ordnance was founded in Canada in 1985 by two childhood friends, Ted Szabo and Thanos Polyzos.
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