PBI Newsroom

Pereles Bros., Inc. Acquired by New Management Team

Milwaukee, WI – September 25, 2013 – Pereles Bros., Inc., one of the Midwest’s most respected plastic injection molding companies, was purchased through an equity buyout by business partners, Steve Iram and Jim Gannon. Gannon serves as co-owner and director while Iram assumed the position of president, succeeding Ted Muccio. Muccio, who purchased the company in 2000 through an Employee Stock Ownership Plan, will serve as a senior advisor through March of 2014. Terms of the buyout were not announced.

"Our objective in an ownership transition was to pass Pereles on to individuals who would continue to focus on providing exceptional products and services to our customers while valuing the employees who have contributed to the company's success," says Muccio. "We strongly believe that Steve and Jim share our passion for this business. They understand manufacturing and are both committed to expanding the company's sphere of excellence. We are leaving the company and its employees in very good hands."

Iram received his bachelor's degree from the United States Military Academy at West Point and his master's degree in business administration from Marquette University. He most recently served as president of Galland Henning Nopak in Milwaukee, and has extensive experience in business management, manufacturing operations, corporate turnarounds, engineering and new product development, supply chain development, and sales.

"I am thrilled to be taking the reins at Pereles Bros., Inc.," says Iram. "We are committed to building on the excellent foundation that Ted and his team have laid. We will leverage it in our efforts to grow the business while continuing to provide superior products and services to our customers."

Iram and Gannon are also partners in Black Knight Capital, LLC, an equity venture firm dedicated to making long term investments in people and companies with growth potential.

Since 1925, Pereles Bros., Inc. has provided a diverse client base with a customer-focused approach to the design and development of specialized, one of a kind, Original Equipment Manufacturer (OEM) products. The company offers cost-efficient design and prototyping assistance, material selection and technical assistance throughout the production process. In addition, Pereles provides an array of value-added services designed to improve ROI for customers. Located in Milwaukee, WI, Pereles Bros., Inc. is an ISO 9001:2008 Certified Manufacturer serving a broad range of industries including medical, foodservice, house wares, automotive aftermarket, electrical, power tools, lawn & garden, and more.