After almost 40 years in the die-cast business, Baroda’s Midwest Die Corp will be passing from the Nitz family to new owners. Cousins Rodney and Richard Nitz are selling the company to an outside investor, Scott Dawson and his partners in Lateral Industries, LLC.
The Nitz’s started Midwest Die in 1982… and the story goes like this, according to their website:
In 1982 Midwest Die Corp was formed by brothers Rodney and Gary Nitz along with friend and neighbor Ray Kinnison. Setting up shop in the back of Ray’s welding business, Rod and Gary pursued their dream of owning a tool shop. Gary was a seasoned journeyman mold maker then, and Rod was still drying the ink on his certificate.
In 1984 Rod and his cousin Richard Nitz partnered, as Gary and Ray chose to move on to other employment and business opportunities. Richard was also a seasoned mold maker and had always wanted to own a shop. They decided to move the equipment to a rental facility in downtown Baroda where they remained for the next 16 years.
In 1991 the Nitz’s decided it was a time that Midwest Die has a place to call home and built a new 8,000 sq. ft., climate-controlled facility in the industrial district of Baroda. A 2,000 sq. ft. storage facility followed in 1996. After the “great recession,” it was time to add another 8,000 sq. ft. of manufacturing space to accommodate new equipment and facilitate growth. Currently, Midwest Die has approximately 20,000 sq. ft. under roof.
President of Midwest Die Rodney Nitz stated, “We have been blessed with long term clients and a great employee base. Our long-term success is a result of ensuring that we provide a very high level of service to our clients. Our committed team members have been a very important part of making Midwest what it is today. After meeting several potential buyers and fielding multiple offers, we felt that Scott was the right person to take Midwest forward. His extensive background in manufacturing, vision for the future, and numerous industry connections will be tremendous assets to the company.”
According to Scott Dawson, the opportunity to acquire Midwest exceeded the criteria he was looking for in an acquisition. “When I saw the Midwest opportunity, I realized that this was the perfect fit,” remarked Dawson. “I liked the location, the long term and talented employee base, great customers and the potential to grow the company in the future. I am excited to be a part of this wonderful team and look forward to building on the legacy created by Rod and Richard over the last 40 years.”
Rod Nitz will continue to operate as the President of Midwest Die Corp.
The deal was engineered by Calder Capital, who represented Midwest Die as its exclusive Mergers and Acquisitions Advisory firm. Pankaj Rajadhyaksha served as the lead advisor. SouthBank Legal served as legal counsel to Lateral Industries in the transaction, while Midwest Die was represented by Passaro, Kahne, Taylor, DeFrancesco & Thompson.
