March 19, 2021
Mno-Bmadsen, the investment arm of the Pokagon Band of Potawatomi Indians has acquired Walerko Tool and Engineering Corp. in Indiana.
Mno-Bmadsen, the non-gaming investment arm of the Pokagon Band of Potawatomi Indians based in Dowagiac, Mich. (between Benton Harbor and Three Rivers), has acquired Walerko Tool and Engineering Corp. in Indiana. Terms of the deal, which closed this month, were not disclosed.
The deal was struck through the band’s manufacturing investment vehicle, Mno-DREK, in Indiana.
“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,” says Julio Martinez, CEO 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 CNC machining of castings, weldments, piece parts, prototype parts, fixtures, and gages, serving the aerospace, military, nuclear, and other sectors. Its customers include Caterpillar, General Electric, and Honeywell.
“With the acquisition of Walerko, we have expanded our base of companies dedicated to precision machining services of highly complex parts and components,” says Eric Karaman, president and COO of Mno-DREK. “We look forward to seamlessly integrating the business into our family of companies and capitalizing on the core competencies established by their dedicated team of manufacturing specialists.”
Walerko also offers customized products designed for product assemblies. Its capabilities include five-axis machining technology, large milling and turning, and CMM and quality.
“We target technology rich companies with manufacturing prowess and leverage our business acumen to provide our customers the best value,” says Dave Razzano, CEO of Mno-DREK. “This acquisition puts us in position to synergize our holdings and to provide improved value in the marketplace.”
Established in 1952, Walerko began as an experimental parts company out of a garage. It has 24 employees who operate out of a 62,000-square-foot facility.
The acquisition represents the latest step in an 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.
Bodwé is comprised of Seven Generations Architecture and Engineering as well as 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, health care, and community.
Included in the rebrand was the creation of a new firm, The Steelhead Engineering Co., and the formation of Blue Star Integrative Studio, an Indigenous American planning and architecture firm in Oklahoma.
Mno-Bmadsen expects to have more real estate investments later in the year and is seeking to expand its construction portfolio and grow its family of companies.
The investment arm launched in 2012 with the goal of diversifying the tribe’s business interests, revenue streams, and wealth for future generations. It has portfolios in services, manufacturing, and real estate.
Mno-DREK was founded in 2017 through a partnership between Mno-Bmadsen and DREK Holdings. Its portfolio includes Michiana Global Mold, Accu-Mold, and Enmark Tool and Gage.