Chumash Capital Investments, LLC (CCI) announced that it has acquired Azimuth Technology, LLC, a manufacturer of tight-tolerance firearms components, from LongueVue Capital and Clavis Capital Partners.
The transaction closed on August 31, 2020. Financial terms of the transaction were not disclosed.
Azimuth’s offerings include handgun slides, handgun barrels and bolt carrier groups, for a diverse base of OEM and aftermarket customers. Azimuth is headquartered in Naples, FL.
Chumash Capital Investments, LLC, a wholly-owned investment entity of the Santa Ynez Band of Chumash Indians, directs economic development investments for the Chumash Tribe. It is capitalized to provide for acquisitions of companies and other opportunities that complement the growth strategy for the tribe. CCI continues to build economic security for its tribal members and future generations by maintaining and expanding a portfolio of sophisticated enterprises.
“The Azimuth team is thrilled to partner with the Santa Ynez Band of Chumash Indians as we embark on our next phase of growth in the firearms and defense industry,” said Azimuth’s CEO, Len Zaiser IV. “CCI’s acquisition of Azimuth provides a major opportunity to target government and foreign military opportunities while continuing to serve our customers with leading quality, speed and precision.”
John Elliott, CEO of the Santa Ynez Band of Chumash Indians, stated, “We are very excited to welcome Azimuth into the Chumash Capital Investments portfolio. This acquisition supports our goal of ensuring long-term economic stability for the Chumash Tribe while offering an attractive counterbalance to CCI’s existing hospitality and leisure-focused investments. We believe Azimuth is primed for continued rapid growth, and we look forward to partnering with the Company’s outstanding management team to help Azimuth reach its full potential.”
Houlihan Lokey acted as exclusive financial advisor to Azimuth, and Norton Rose Fulbright acted as legal counsel to Azimuth. Horizon Business Advisors, LLC acted as exclusive financial advisor to CCI, and Holland & Knight acted as legal counsel to CCI. Bell Nunnally & Martin LLP served as legal counsel to CCI with respect to transaction financing matters.
Photo courtesy Azimuth Technology