Bain Capital objects to Priorities USA ad

Mitt Romney’s former private equity firm is taking issue with a TV ad the pro-Obama super PAC Priorities USA Action is airing in New Hampshire, arguing that it presents a “distorted” view of the company’s record.

It is only the second time (as far as I’m aware) that Bain has inserted itself directly into the presidential race. The last time was nearly a month ago, when the Obama campaign and Priorities USA began blasting its management of the acquired company Ampad.

The Bain statement doesn’t actually push back on the core contention of the Priorities commercial: that after acquiring the manufacturing company Holson Burnes, Bain laid off workers in New Hampshire and expanded operations overseas.

In fact, the whole super PAC commercial is made up of clips from TV and print news coverage sourced to a December Associated Press story. (At the time, Jon Huntsman used the reporting to blast Romney’s business record in New Hampshire.)

The message from Bain’s PR firm emphasizes that Bain extricated itself from Holson Burnes long before a facility in Claremont, N.H., shut down. The statement also says that Bain is not a direct participant in the presidential race.

“While we understand that in a political campaign our exemplary 28-year record will be distorted, recent suggestions about Bain Capital’s involvement with Holson Burnes are simply false. The Claremont, NH plant was closed in 2005, 10 years after Bain Capital sold its ownership stake in the company. During its ownership Bain Capital grew Holson Burnes dramatically, investing millions of dollars and a great deal of time to improve Holson Burnes’ competitiveness and building the Claremont, NH plant into the world’s largest manufacturing facility for photo albums,” the statement reads.

It continues: “Bain Capital is focused on growing great companies and improving their operations. Mitt Romney retired from Bain Capital over 13 years ago. We are not a political organization, and take no public position on any candidate. We are extremely proud of our employees and management teams, who have grown revenues in over 80 percent of our 350 companies, which include over 100 start-up investments.”

I asked Bain’s representatives to address the question of New Hampshire layoffs – rather than a subsequent factory shutdown – and will update if I get an answer.

In an email, Priorities USA strategist Bill Burton stood by the attack.

“In Mitt Romney’s world, Holson Burnes is a complete success story. Romney’s definition of success is making millions while hundreds of employees in New Hampshire and South Carolina saw their jobs shipped overseas,” he said in an email. “Layoffs and outsourcing were just another way that Romney benefited financially when middle class families lost everything.”