Columbia, S.C. (January 2, 2017)- In an acquisition that strengthens the USA made AK market, JJE Capital (PSA’s parent company) announced the purchasing of a majority equity interest in the boutique firearms manufacturer and importer Destructive Devices Industries. Palmetto State Armory CEO Jamin McCallum was quoted saying “This move will allow a concentrated effort by both PSA and DDI to continue the growth of the all American made AK-47 and its variants.” David Fillers of DDI will continue with the company as a financial partner as well as in an advisory role, he was quoted saying; “It was time to take DDI to the next level, and the best way I saw to do that was to partner with a proven industry leader.” Both PSA and DDI will remain separate entities, but will partner on R&D and compatibility in all related fields in order to pass on the benefit to the customer. This level of detail will be acquired through a joint venture between the two companies known as the “AK Excellence Center” which will be located in Columbia, SC and will focus on new developments for the iconic firearm. DDI also announced that its focus moving forward will be the US production of quality rifles. DDI will continue to stand behind all imported items that were previously sold, but from this point forward will no longer be a firearms importer. Adam Ruonala, Chief Marketing Officer of Palmetto State Armory said; “This move is a chance for two innovators of the American AK platform to come together, and with that kind of creativity at the helm, there is no telling how far this ship can go!”
Tags: Destructive Devices Industries, JJE Capital, Palmetto State Armory