Potawatomi buy Michigan-based mold maker Accu-Mold

By Rhoda Miel
News Editor

Published: January 10, 2013 6:00 am ET

Related to this story

Topics Mergers & Acquisitions, Molds/Tooling

PORTAGE, MICH. (Updated Jan. 11, 1:20 p.m. ET) — Mold maker Accu-Mold Inc. has been acquired by the economic development group of the Pokagon Band of Potawatomi.

Mno-Bmadsen plans to invest in new technology and add employees at Accu-Mold, based in Portage, Mich.

The business will continue at the same location under the new name Accu-Mold LLC. Former owner Dave Martin will remain president. Martin said he is putting together three long-range plans that Mno-Bmadsen can look at when shaping long-term investments.

“There’s been no difference in terms of future planning,” he said. “If anything, it has escalated, in that we have a bigger pool of financing available so we may be able to pull [hiring] forward and do it a little earlier.”

Accu-Mold has been in business for 36 years. It builds injection mold tooling for everything from micromolds to molds for 500-ton presses, with a specialty in products being converted from metal to plastics.

“We’ve got a very successful niche and everybody is trying to take weight out of everything, from automotive to aerospace,” Martin said.

Martin said he had been studying the best succession plans for his business. He is 56 and looking for options that would allow him to phase out his role in the company during the next 10 years. He also wanted to ensure that Accu-Mold and its employees would have a stable and secure future.

Mno-Bmadsen was looking for its first industrial company and a long-term investment. It also wanted a company that was established, not one requiring new management or turnaround expertise.

Mno-Bmadsen, based in Dowagiac, Mich., was created to conduct investments in non-gaming businesses for the Potawatomi tribe. Its name translates from Potawatomi as “living the good and prudent path.”

Mno-Bmadsen owns one other subsidiary, Seven Generations Architecture and Engineering LLC of Benton Harbor, Mich.


Comments

Potawatomi buy Michigan-based mold maker Accu-Mold

By Rhoda Miel
News Editor

Published: January 10, 2013 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Netstal, Electra Form team up for PET preform partnership

November 20, 2014 3:15 pm ET

The Netstal division of Krauss-Maffei Corp. is teaming up with Electra Form Industries in a partnership to offer PET preform machines and molds as a...    More

Image

Coveris changes culture, eyes IPO

November 20, 2014 1:40 pm ET

CEO Gary Masse has a simple message, and some new math, for everyone at Coveris Holdings Corp. Get on board or get out of the way.    More

Image

Total to buy majority stake in Polyblend

November 20, 2014 10:04 am ET

French oil and gas giant Total SA will buy a 68 percent stake in Germany's Polyblend GmbH, a subsidiary of Polymer-Chemie GmbH.    More

Image

Illinois mold maker adds machinery, renovates to improve work flow

November 18, 2014 1:23 pm ET

Injection mold maker Industrial Molds Inc. is adding $1.7 million in new machinery, the company has announced.    More

Image

Private equity fuels acquisition market

November 18, 2014 11:52 am ET

Plastics firms and outside investors with money to spend increasingly have done so in the plastics industry for the last quarter-century — and p...    More

Market Reports

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events