NATIVENEWSONLNE.NET September 16, 2020 – The non-gaming economic development and investment arm of the Santa Ynez Band of Chumash Indians is further diversifying its portfolio of companies with the acquisition of a Florida-based specialty firearms components manufacturer.
Chumash Capital Investments LLC acquired Azimuth Technology LLC from New Orleans, La.-based LongueVue Capital Partners and Dallas-based Clavis Capital Partners, two private equity firms that invested in the company five years ago.
With the deal, the tribe’s wholly-owned Chumash Capital seeks to continue building out its investment portfolio of “sophisticated enterprises” for the benefit and economic security of future generations of tribal members.
“This acquisition allows the Santa Ynez Band of Chumash Indians to diversify its portfolio and adds a successful company to Chumash Capital Investments, which is focused on the tribe’s economic development and long-term stability,” John Elliott, CEO of the Santa Ynez Band of Chumash Indians, said in a statement to Native News Online.
Terms of the deal, which closed Aug. 31, were not disclosed.
For Naples, Fla.-based Azimuth Technology, which was founded in 2011, the tribal ownership structure will position the company to further capitalize on federal government contracting opportunities.
Drawing on a bench of experience in the medical device sector, the company manufactures tight-tolerance firearms components, including handgun slides and barrels, as well as bolt carrier groups for original equipment and aftermarket customers selling to the law enforcement and commercial markets.
Azimuth Technology also manufactures various products for the defense industry, including probes and protection systems for detecting improvised explosive devices, destructive systems for explosive ordnance disposal, and guidance and missile systems.
Azimuth CEO Len Zaiser IV, who along with other management is staying on with the company, said the Chumash Capital Investment deal “provides a major opportunity to target government and foreign military opportunities while continuing to serve our customers with leading quality, speed and precision.”
With the tribe’s backing, the company looks to “embark on our next phase of growth in the firearms and defense industry,” Zaiser said in a statement. [full article]