Mno-Bmadsen, the non-gaming investment arm of the Pokagon Band of Potawatomi Indians, has acquired a majority stake in Enmark Tool & Gage.
Enmark is a provider of precision machining services focused on complex parts and components for an array of sectors, including aerospace, automotive, defense and machine tooling. The company's blue-chip clients include Caterpillar, Park-Ohio Holdings, Corp., Timken Co. and others.
"The addition of Enmark to our manufacturing portfolio is another step in our strategy to develop a family of great companies that provide diversified revenue streams for the future generations of Pokagon citizens," said Mno-Bmadsen President and CEO Troy Clay. "This continuing success is a team effort led by our board of directors with the ongoing support of the Pokagon Tribal leadership."
"The execution of our targeted investment strategy and plan has resulted in this acquisition which diversifies our overall portfolio by building significant additional capacity within our manufacturing group. This investment validates our very disciplined approach and will provide significant portfolio stability, returns and growth," said Julio Martinez, Chief Financial Officer for Mno-Bmadsen.
"Enmark's expertise in precision machining of large, high-geometric dimensioning and tolerancing components and assemblies fit seamlessly into our manufacturing portfolio known as Mno-DREK," said Dave Razzano, CEO of the Mno-DREK group.
Erik Karaman, President/COO of Mno-DREK and equal partner with Razzano, added, "Enmark makes both new and replacement parts, as well as refurbishes and rebuilds entire sub-assemblies, thus enabling the company to service all of the components through the entire lifecycle of the end product."
Enmark is a third-generation family-owned business that was founded in 1951. Today, operations of the company are executed by brothers Gary and John Enmark out of the Fraser, MI, headquarters. Gary and John took over the business in the early 1970s and have overseen significant expansion since then, including a dramatic transition to larger, value-added machined components from gauges and fixtures, and completing the facility expansion that features a climate-controlled 44,000 sq. ft. factory poised to manage further growth.
"The investments we have completed during the last several years have positioned Enmark for continued progress with both existing accounts and new accounts," said Gary Enmark, President of Enmark. "We are honored to partner with Mno-Bmadsen as Enmark joins the family of companies and takes the next step in its evolution."
Plans for Enmark include Gary and John continuing to operate the company for the next three years, ensuring business-as-usual, steadiness and a seamless transition when Mno-Bmadsen takes over day-to-day management of the company through Mno-DREK.
"Our investment in Enmark further expands our fast-growing manufacturing portfolio in a successful and strategically-located business in the Detroit metro area," Clay said. "As a tribally-owned business, Enmark, like all of our family of companies, enjoys significant tax advantages in the form of U.S. government privileges, immunities and rights expressly granted through the Mno-Bmadsen charter. This is a major economic advantage to working with Mno-Bmadsen that other bidding companies cannot offer."
For more information contact:
Enmark Tool & Gage
18100 Cross Drive
Fraser, MI 48026
586-293-2797
sales@enmarktool.com
www.enmarktool.com
Mno-Bmadsen
415 E. Prairie Ronde St.
Dowagiac, MI 49047
269-783-4111
www.mno-bmadsen.com