March 10, 2021
The non-gaming investment arm of the Pokagon Band of Potawatomi Indians has acquired an Elkhart tool and engineering company and says to expect additional announcements regarding real estate acquisitions throughout 2021.
Mno-Bmadsen, the non-gaming investment arm of the Pokagon Band, has acquired Walerko Tool and Engineering Corp. through its manufacturing investment vehicle Mno-DREK. The deal closed earlier this month and terms of the transaction were not disclosed.
Julio Martinez, Chief Executive Officer of Mno-Bmadsen, says, “The addition of Walerko Tool and Engineering to our manufacturing portfolio greatly expands capacity and creates important synergies with our existing companies that will drive performance, increase margins and fuel future growth.” Martinez adds, “With this acquisition, we continue to deliver on our core investment plan as well as deepening our partnership with Mno-DREK.”
Walerko offers a wide range of services to its customers, including CNC machining of castings, weldments, piece parts, prototype parts, fixtures, and gages. The company is registered with ISO9001 and AS9100. Walerko serves a variety of important sectors, including aerospace, military, and nuclear. Blue chip clients of the manufacturer include Caterpillar, General Electric, Honeywell, and others.
Eric Karaman, President and Chief Operating Officer of Mno-DREK, says, “With the acquisition of Walerko, we have expanded our base of companies dedicated to precision machining services of highly complex parts and components,” and adds, “We look forward to seamlessly integrating the business into our family of companies and capitalizing on the core competencies established by their dedicated team manufacturing specialists.”
Walerko is known for providing customers with customized products that suit their unique designs. The company’s high precision capabilities fit perfectly into customers’ product assemblies, resulting in long-term relationships. Walerko’s capabilities include 5-axis machining technology, large milling and turning, and CMM/quality, all of which complement Mno-DREK’s expertise.
Dave Razzano, CEO of Mno-DREK, says, “We target technology-rich companies with manufacturing prowess and leverage our business acumen to provide our customers the best value,” noting, “This acquisition puts us in position to synergize our holdings and to provide improved value in the marketplace.”
Walerko Tool & Engineering was established in 1952 as an experimental parts company out of a garage. Since then, the family business has grown to a crew of 24 people who are operating out of a 62,000 square-foot facility in Elkhart.
The acquisition of Walerko represents the latest step in an active early start to the new year for Mno-Bmadsen. In addition to Walerko, Mno-Bmadsen announced the formation of Bodwé Professional Services, the rebranding of the family of professional services companies. The rebranding of Bodwe also included the creation of a new firm, The Steelhead Engineering Co., and the formation of Blue Star Integrative Studio LLC, an Indigenous American planning and architecture firm in Tulsa, OK.
Bodwé is comprised of Seven Generations Architecture + Engineering and WBK Engineering, existing portfolio companies of Mno-Bmadsen. The firms work independently and collaboratively to support public and private clients nationwide across sectors, including tribal, municipal, federal, healthcare, and community.
Looking further into 2021, Mno-Bmadsen expects to have multiple announcements concerning investments in real estate, as it also actively seeks to expand its construction portfolio and continue to organically grow its entire family of companies.
Mno-Bmadsen, an independently managed instrumentality, was launched in 2012 with the mandate to diversify the Pokagon Tribe’s business interests, revenue streams, and wealth for future generations. Headquartered in Dowagiac, Mno-Bmadsen’s key strategic investment
goals are to buy, hold and grow its portfolios, which currently are Services, Manufacturing, and Real Estate. To learn more, you can visit online at: http://www.Mno-Bmadsen.com
Mno-DREK is a leading manufacturing holding company in the Midwestern United States. Founded in 2017 through the partnership between Mno-Bmadsen and DREK Holdlings, Mno-DREK’s portfolio is comprised of Michiana Global Mold, Accu-Mold and Enmark Tool & Gage. The company is based in Mishawaka, Indiana.