A tribal nation moves into development with WWC Global acquisition

Command Holdings, a U.S. tribal nation-owned investment fund, acquired consulting firm WWC Global earlier this month, marking its foray into the development business. The move is part of a strategy to diversify its portfolio and tap into the lucrative marketplace of the federal government contracting business, CEO Jon Panamaroff told Devex. Command Holdings is owned by the Mashantucket Pequots, a federally recognized Native American tribe in southeastern Connecticut. WWC Global is a nearly 2-decade-old firm that counts among its clients the U.S. Agency for International Development and the U.S. Department of State. It generates about $100 million a year in revenue, the company said. The deal gives Command Holdings its first access into development and also marks a change from the tribal nation’s previous investments in hospitality and gaming. “When you look at where the nation had invested early on, it was in hospitality. As we know, there's a lot of seasonality that goes into hospitality, no matter where you're kind of located. This gave the nation an ability to build and diversify into things that are a little more streamlined,” he said. “Our goal is to build a company that will be around for many generations.” --— Angelina Casanova, board chair, Command Holdings The consistency that comes from federal contracting was one reason Command Holdings bought into WWC, he said. “As the [tribal nation] was looking for areas to make sure that it can have those continual resources, as they develop themselves as a nation, they wanted areas that were more consistent and baseline for them,” the CEO added. Nearly a third of U.S. gross domestic product came from government spending in fiscal year 2021, a reality that offers Command Holdings a lucrative space to tap into and grow its business, Panamaroff said. “That is an emerging market, that is an area that small businesses can continue to participate in,” he said. “And with that being such a large portion of GDP, seeing the scale of growth and the commitment to the small business arena, it is an area that, you know, looks very lucrative for not just Command Holdings, not just for the Mashantucket Pequot Tribal Nation, but for all businesses as they're looking to diversify into other market spaces.” As part of the merger, Command Holdings will absorb WWC’s business and its leadership team. The consulting company’s all-female leadership trio of Lauren Weiner, Donna Huneycutt, and Heidi Snell will become part of Command’s executive teams, the companies have said. “We are able to compete well for USAID work and have a great reputation among our customers,” Weiner told Devex. “Our acquisition by Command Holdings opens new possibilities under the tribally-owned 8(a) program for more flexibility for customers.” Weiner declined to say how much the deal was worth. But she said that approximately 20% of WWC Global’s projected annual revenue was from its contract with USAID. Last year the company secured two contracts worth nearly $100 million in total from USAID. Weiner said that WWC Global has been working in the “3D” space — not just defense, but also diplomacy and development — for well more than a decade. At the moment, they were helping USAID on two contracts in the Office of Transition Initiatives and the Center for Democracy, Human Rights and Governance, she said. The merger would make the business more competitive, Weiner said. It would build out the suite of services that Command Holdings offers, increase their size and complexity, and allow the tribally owned company to deliver those services in the federal contracting marketplace, Weiner said. For Command Holdings’ board, the acquisition is part of a larger strategy to build a sustainable business for the tribe. “Our goal is to build a company that will be around for many generations,” said Angelina Casanova, Command Holdings chairwoman of the board and a member of the Mashantucket Pequot Tribal Nation. She declined to say how much the tribe had set aside for this growth strategy, but said that her organization was committed to this approach. “The tribe itself operates in other spaces, like gaming, and that's really kind of our bread and butter, but the council is committed to growing this organization and to being a market leader in this industry,” she told Devex.