Mold maker Michiana Global Mold has merged with custom injection molder Accu-Mold LLC, owned by Mno-Bmadsen, which was chartered by the Pokagon Band of the Potawatomi Native American tribe in Michigan.
Michiana Global Mold, in Mishawaka, Ind., is owned by DREK Holdings LLC, a holding company recently formed by Dave Razzano and Eric Karaman. Accu-Mold is in Portage, Mich.
In a deal announced Jan. 5, Mno-Bmadsen and DREK Holdings announced the formation of Mno-DREK LLC, a holding company for the manufacturing businesses. Mno-DREK is looking for acquisitions.
The Potawatomi's Pokagon Band, in Dowagiac, Mich., chartered Mno-Bmadsen in 2009 to diversify its economy by investing in regional businesses. The family of companies includes Accu-Mold, which it has owned since 2013.
Razzano said that, with the partnership, Michiana Global Mold is going to make the tooling for Accu-Mold, which will do the plastics processing.
Razzano is CEO of Mno-DREK. Karaman is chief operating officer.
In a statement, Troy Clay, president and CEO of Mno-Bmadsen and chairman of Mno-DREK, said the merged companies reflect the businesses' investment plan.
"Razzano and Karaman provide the talent, commitment and personal integrity we seek in our partners and managers to lead portfolio performance and acquire companies in the manufacturing sector," Clay said.
Razzano will lead acquisition strategy, looking at small to mid-sized owner operated companies with strong corporate cultures that are well-established in their markets.