A Grand Junction-based defense contractor has been purchased and added to a portfolio of companies owned by a Native American tribe in California.
Capco was sold to Chumash Capital Investments, a wholly-owned investment entity of the Santa Ynez Band of Chumash Indians.
“We are excited about this new relationship with the Santa Ynez Band of Chumash Indians,” said Cordell Bennigson, chief executive officer of Capco.
“Like our entire team, the Chumash take great pride in the important work Capco does everyday. They are committed to maintaining the culture and quality reputation Capco has built while supporting new opportunities for growth, expansion and modernization,” Bennigson said.
Capco designs, engineers and sells a range of products to the U.S. Department of Defense as well as law enforcement agencies and international customers.
Those products include fin assemblies for bombs dropped from Air Force, Marine and Navy aircraft as well as impulse cartridges used to eject flares and chaff from aircraft and lightweight machine gun tripods.
As Capco has landed large government contracts, the company has expanded its operations. Capco added a 35,000-foot-building to its operation and invested more than $5 million in the building and manufacturing facilities there.
Chumash Capital Investments directs economic development investments for the Chumash Tribe and maintains a portfolio of enterprises to provide economic security for tribal members.