Pokagon Division Purchases Elkhart Manufacturer
MNO-BMADSEN GROWING AGAIN WITH ACQUISITION OF ELKHART’S WALERKO TOOL & ENGINEERING
March 10, 2021Elkhart manufacturer bought by investment arm of Pokagon Band of Potawatomi Indians
March 12, 2021Pokagon Division Purchases Elkhart Manufacturer
The Elkhart Truth
March 10, 2021
DOWAGIAC, Mich. — Mno-Bmadsen, the non-gaming investment arm of the Pokagon Band of Potawatomi Indians, through its manufacturing investment vehicle Mno-DREK, has acquired Walerko Tool and Engineering Corp. in Elkhart, Indiana.
The deal closed in March and terms of the transaction were not disclosed.
“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,” said Julio Martinez, chief executive officer of Mno-Bmadsen. “With this acquisition, we continue to deliver on our core investment plan as well as deepening our partnership with Mno-DREK.”
Walerko offers a range of services to its customers, including CNC machining of castings, weldments, piece parts, prototype parts, fixtures and gages. Walerko serves a variety of sectors, including aerospace, military and nuclear. Blue chip clients include Caterpillar, General Electric and Honeywell.
Established in 1952 by Edward F. Walerko as an experimental parts company out of a garage on Okema Avenue, Walerko Tool & Engineering has grown to 24 employees operating out of a 62,000-square-foot facility at 1935 Lusher Ave. In 2008, Walerko Tool & Engineering changed ownership to the second generation when Edward M. Walerko completed purchasing the company after 28 years of employment there, according to the firm’s website.
Independently managed Mno-Bmadsen was launched in 2012 with the mandate to diversify the Pokagon Band’s business interests, revenue streams and wealth. Its key strategic investment goals are to buy, hold and grow its portfolios for future generations.
Mno-DREK is a leading manufacturing holding company in the Midwest. 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.
