Dexter Axle Co. has acquired 100% of the equity interests in Redneck Inc. and Redline Products LLC, headquartered in Springfield, Mo., parent company DexKo Global Inc. reports. Financial terms of the transaction were not disclosed.
Since 1979, Redneck has supplied trailer axles and other trailer components across North America. Operating 20 locations in 17 states and employing nearly 400 people, Redneck distributes thousands of stocked trailer parts and accessories to manufacturer, dealer, and retail customers.
Dexter, headquartered in Elkhart, Ind., employs over 3,100 people in the U.S. and Canada and operates 17 manufacturing facilities and 14 distribution locations. Founded in 1960, Dexter serves utility trailer, recreational vehicle, marine, heavy duty, agricultural, and specialty equipment manufacturers and distribution centers.
The partnership between Dexter and Redneck offers opportunities to enhance service with an expanded geographical footprint, provide better coverage to customers with a diverse product portfolio, and offer greater value to business partners, according to the company.
“I am very excited about bringing Redneck into the Dexter family with their great people, customers, and distribution resources. Redneck has long supported the Dexter brand, and this acquisition provides an additional platform to offer our products to their customers,” Adam Dexter, president and CEO of Dexter, said. “Bringing these two companies together will allow us to concentrate on operational excellence by partnering with our current and new employees, suppliers and customers. Our companies’ core foundations of providing outstanding customer service align exceptionally well. I am certain that ‘Together is Better’ with Redneck joining Dexter.”
Ernie Giddens, chairman and CEO of Redneck thanked the company’s the loyal customers and employees, noting some of which have been there with Redneck nearly 40 years.
“We will always cherish the friendships and relationships we have forged with all of you and your children as they have grown up and become active in your businesses today. We will miss you all and wish you the very best in the years to come,” Giddens said. “We believe the future for Redneck, its customers and employees, is in good hands with Dexter Axle.
“They have been a major contributor to our industry’s growth over the last 40 years and we believe their continued investment in the industry and, particularly with the purchase of our Companies, will solidify our reputation as the leading Axle and Trailer Parts supplier in our markets for decades to come.”