Tribally owned holding company (non-gaming economic development arm of the Nottawaseppi Huron Band of the Potawatomi)
Waséyabek Development Company
- HeadquartersGrand Rapids, MI S1
- Founded2011 S4
- Websitewaseyabek.com
- Last verifiedNovember 5, 2026
At a glance
| EBITDA range | $3M to $10M S2 |
|---|---|
| Deal types | Platform, Add-on, Minority S3 |
| Geography | Great Lakes region (industrial companies), United States (federal contractors) S2 |
| Sectors | IT Services & MSP, Environmental & Waste, Transportation & Logistics, Industrial & Manufacturing, Accounting & Professional Services |
What Waséyabek Development Company buys
Waséyabek is the Grand Rapids holding company that runs the non-gaming businesses of the Nottawaseppi Huron Band of the Potawatomi, a southwest Michigan tribe. Set up in 2011, it reports full or majority ownership of more than 30 entities and over 900 employees. Its Industrial Group spans electronics manufacturing, engine and propulsion engineering, trucking, warehousing and a turnaround advisory firm. Its Federal Group covers government IT, defense software, environmental engineering and site operations. A third group holds commercial real estate.
It buys established companies at fair market value, looking for $3 million to $10 million of EBITDA, a solid reputation and strong leaders. It names defense, medical and real estate as target industries but invites sellers from other fields. It looks in the Great Lakes region for industrial companies and nationwide for federal ones, and it rules out speculative bets. It usually takes a majority stake, and some owners have kept a minority. A smaller company may fit as an add-on to a subsidiary, as Great Lakes Warehousing did in 2025.
Recent deals
Announced in the 24 months before November 5, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Dec 2025 | LaCroix Grand Rapids plant (now Safari Grand Rapids)Distressed electronics plant bought by subsidiary Safari Circuits, keeping 116 workers from layoff; the sale closed in September 2025 | Add-on | Industrial & Manufacturing | Source |
| Jul 2025 | Michigan Capital Network$5 million passive commitment to a Grand Rapids venture capital manager focused on advanced technology | Investment | Source | |
| Feb 2025 | Great Lakes WarehousingHolland, Michigan warehouse business founded in 1976 by the Van Wyks, bought by Zip Xpress and Green Transportation; Waséyabek separately bought the surrounding land | Add-on | Transportation & Logistics | Source |
Portfolio by sector
From the firm's portfolio page S1.
Federal Group
- BLDI
- Fed95
- VES
- Waséyabek Operations & Technical Support
- Waséyabek Federal Services
Industrial Group
- Safari Circuits
- Baker Engineering
- Pratt Miller-Baker JV
- Zip Xpress
- Green Transportation
- Great Lakes Warehousing
- DWH
Passive Investments
- BAMF Health Minority holding
- Michigan Capital Network Passive investment
Real Estate Group
- Terrapin Properties of Michigan
Greymont’s take
How Waséyabek Development Company fits a seller
Waséyabek suits the owner of a profitable Great Lakes company, or a federal contractor, who wants a permanent owner rather than a fund that will resell. Its deals tend to keep people in place. BLDI's president stayed and two owners kept minority stakes in 2023, and the CEO and COO of VES did the same that year. Mike Van Wyk stayed as a consultant after selling Great Lakes Warehousing in 2025, so both a staged exit and a continuing role have precedent.
One question comes first. President and CEO Deidra Mitchell plans to leave at the end of 2026, with the chief legal officer stepping in as interim CEO until a successor arrives, so ask who will approve a deal and whether the stated size range and industries will hold. Owners should also ask how tribal ownership would change their contracts, since BLDI's president expected it to open federal work.
Questions owners ask
What size company does Waséyabek buy?
Its published criteria call for EBITDA of $3 million to $10 million, along with a solid reputation, strong leadership and values that match its own. It says it pays fair market value and will tell a seller whether it is interested.
What does Waséyabek buy outside federal contracting?
Its Industrial Group owns Safari Circuits, Baker Engineering, Zip Xpress, Green Transportation, Great Lakes Warehousing and advisory firm DWH. Its Real Estate Group holds commercial property through Terrapin Properties of Michigan, and it has small passive stakes as well.
Can an owner keep a stake after selling to Waséyabek?
Yes, in some deals. When it became majority owner of BLDI in September 2023 and VES in December 2023, leaders at both companies kept minority stakes and stayed in their jobs.
Is Waséyabek a private equity fund?
No. It is a holding company wholly owned by the Nottawaseppi Huron Band of the Potawatomi. Its stated purpose is to create jobs and profits for the tribe over the long term, not to buy and resell companies.
Sources
- S1Waséyabek home page and family of companies Accessed November 5, 2026
- S2Waséyabek: What We Do (acquisition criteria) Accessed November 5, 2026
- S3Waséyabek: Industrial Group, subsidiaries and passive investments Accessed November 5, 2026
- S4Waséyabek: Who We Are Accessed November 5, 2026
- S5Waséyabek and Two Subsidiaries Purchase a West Michigan Warehousing Company and Land (February 4, 2025) Accessed November 5, 2026
- S6Safari Circuits Acquires Grand Rapids Manufacturing Plant (December 2, 2025) Accessed November 5, 2026
- S7Waséyabek Invests in West Michigan Venture Capital Firm (July 29, 2025) Accessed November 5, 2026
- S8Michigan Tribal Economic Development Leader Announces Plans to Leave Position (June 24, 2026) Accessed November 5, 2026
- S9Waséyabek Adds Two New Executives to its Leadership Team (August 5, 2026) Accessed November 5, 2026
- S10Waséyabek Becomes Majority Owner of BLDI (September 18, 2023) Accessed November 5, 2026
- S11Waséyabek Becomes Majority Owner of VES (December 1, 2023) Accessed November 5, 2026
- S12Waséyabek Federal Group: companies and service offerings Accessed November 5, 2026
- S13Waséyabek: Real Estate Group Accessed November 5, 2026
- S14Fed95 home page Accessed November 5, 2026
- S15Waséyabek Operations & Technical Support home page Accessed November 5, 2026
- S16Potawatomi Ventures and Waséyabek Announce Strategic Investments in BAMF Health (August 19, 2024) Accessed November 5, 2026
- S17Waséyabek News Accessed November 5, 2026
- S18Waséyabek and Gun Lake Investments Obtain Ownership of Zip Xpress and Green Transportation (October 26, 2021) Accessed November 5, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Waséyabek Development Company. Figures are as reported on the dates shown and may have changed. Request a correction