DexKo Global Inc announced that Dexter has acquired the heavy duty axle and suspension manufacturing assets of Ingersoll Axles, along with the light duty axle manufacturing assets of Standen’s from the IMT Group.
Ingersoll Axles has suppling specialized heavy duty trailer axles and suspensions across North America for over 55 years. Dexter has acquired manufacturing locations in Ingersoll, Ontario; Calgary, Alberta; and Indianapolis, IN.
“We are excited to continue to expand our DexKo business. With Ingersoll Axles, we get a great team, a stronger position in Canada, introduction to new markets with highly engineered products and new suspension technologies that will provide a foundation to increase our market leading performance.” stated Fred Bentley, CEO of DexKo Global. “We have completed four acquisitions in four countries in the last quarter where all fit perfectly in our customer and product portfolios. The Dexter and AL-KO teams continue to perform well and this performance provides the opportunity for us to continue to grow the business while improving our balance sheet.”
“This acquisition will broaden our ability to service the Specialty Heavy Duty Trailer Market,” adds Adam Dexter, President and CEO of Dexter. “The additional manufacturing capacity in Canada will bring us closer to our customers and will help us to improve our overall service.”
DexKo Global and Dexter are majority owned by a fund managed by The Sterling Group, an operationally-focused middle market private equity firm based in Houston, Texas with $2.2 billion of assets under management.