(Lake Park)-Northern Iowa Die Casting, Inc. (“NIDC”), a Lake Park and Spirit Lake based company that produces die cast alloy components for products ranging from tractors, combines, and engines to baking pans, has announced a transition in ownership.
The company was owned by Joanne and Ned Stockdale from 1983 until their passing in 2018 and 2019, respectively. The business was most recently owned by Owen and Morgan Stockdale, the sons of Joanne and Ned Owen, and NIDC’s current President, Jeff Skalbeck, who say they have been working to plan a smooth transition for the business over the past few years.
Owen Stockdale, who is now a leader at a global consulting company in Minneapolis but still spends a lot of time in the Lakes area, says “I am very proud of the team and legacy my parents built at NIDC. My priority has been finding the next owner who is committed to building on the foundations that the great team at NIDC has put in place and to work to grow this company. I am very confident that we have found that in Tony, and I know he will be a great addition to the leadership team. Personally, I am looking forward to supporting the NIDC team as an investor and advisor for years to come.”
The new owner will be Tony Powe, Managing Director of Epoch Capital Management. Tony grew up in Mississippi and has his engineering degree from the University of Tennessee.
He is married to a Notre Dame graduate who grew up in a Northwest Indiana farming community. Before owning several industrial companies around the country, he attended business school at Massachusetts Institute of Technology.
Powe says, “I have been very impressed as I’ve learned more and more about the company and the team at NIDC. As we’ve gotten to know each other, Owen and I have come to realize we see things very similarly. I am looking forward to continuing and building upon the NIDC legacy that was
established by the Stockdale family.”
There are no significant changes for NIDC’s employees, customers or suppliers expected, and management remains committed to basing its operations in Dickinson County.
NIDC President Jeff Skalbeck has been with NIDC for over 20 years and will remain in that role. “We are proud of the growth we have created together and the role we’ve played in our communities through both good times and challenging times. We believe we are very well-positioned for the next chapter of growth, and I’m confident Tony will be a great addition
to our team to help create it.”
