DexKo Global has signed an agreement to acquire Fluid-Press Group
NOVI, Mich., June 29, 2022 /CNW/ -- DexKo Global Inc. ("DexKo"), a global leader in highly engineered trailer running gear, chassis assemblies, related components and hydraulic brake applications, is pleased to announce that it has signed a definitive agreement to acquire Fluid-Press Group ("Fluid-Press").
Fluid-Press was founded in 1971 and is located in Albinea, Reggio Emilia, Italy. The company develops and manufactures hydraulic valves and manifold blocks for agricultural machinery, industrial equipment, cranes, aerial platforms, and earth-moving machines. Fluid-Press will be a valuable addition to DexKo's Hydraulics business, working closely with Safim Brakes, Modena, Italy ("Safim"). Safim is a leading manufacturer of highly engineered hydraulic braking system components used in a range of off-highway equipment applications and has been a part of DexKo and AL-KO Vehicle Technology ("AL-KO") since 2019.
"The family business, which has been successfully managed for decades, produces high-quality products and components. This acquisition enables DexKo to continue to grow in hydraulics and further expand our product offering in this segment. We are pleased to welcome the Fluid-Press team to DexKo and to help them build upon the company's strong foundation", stated Fred Bentley, Chief Executive Officer of DexKo.
"We are dealing with complementary customer portfolios (OEM and distribution), which will allow us to grow further in the respective customer segments with both Safim and Fluid-Press products that we can now sell through the distribution channels of both companies and into untapped markets", said Harald Hiller, President and CEO at AL-KO. "We look forward to uniting the strengths of the Fluid-Press team with those of DexKo to grow the Hydraulics business further".
"We will work closely together, exploit synergies and thus significantly broaden our customer and geographic reach, and I am looking forward to utilizing our joint business opportunities", commented Giovanni Pedrinoni, Managing Director at Safim. "We are proud to be part of DexKo, a global industrial group which will strengthen Fluid-Press' worldwide presence. I am confident we will achieve great results together with Safim", added Aldo Tagliavento, Chairman of Fluid-Press, who will continue to serve the business as a director.
Financial terms of the transaction were not disclosed. The transaction is subject to customary closing conditions. The sellers were advised by PwC M&A, Tax & Legal Services and Transaction Services as well as by Studio Ferrarini on tax matters. Buy-side legal advice was provided by the law firm Chiomenti.
Press Contact:
AL-KO Vehicle Technology Group Eva Doppler
Ichenhauser Straße 14
D-89359 Kötz
+49 8221 97-8239
[email protected]
www.alko-tech.com
The AL-KO Vehicle Technology Group is a swiftly growing global technology group and business unit of DexKo Global. With high-quality chassis and suspension components for trailers, leisure and commercial vehicles, and construction and agricultural vehicles, the group represents the best in functionality, maximum com-fort as well as innovations to ensure greater driving safety. Founded in 1931 the group today has around 3,800 employees and more than 40 locations worldwide. The company includes the 15 international brands AL-KO, Aguti, Bankside Patterson, Brad-ley, Brink, CBE, cmtrailer parts, E&P Hydraulics, G&S Chassis, Hume, Nordelettronica, Preston Chassis, SAFIM, SAWIKO and Winterhoff. www.alko-tech.com
DexKo Global Inc. is the world's leading supplier of advanced chassis technology, chassis assemblies, and related components with more than 130 years of experience in trailer and caravan components. DexKo Global was founded at the end of 2015 through the combination of Dexter and AL-KO Vehicle Technology. With its head-quarters in Novi, Michigan/USA, the company employs more than 7,300 associates with about 100 production facilities and distribution centers. www.dexko.com
SOURCE DexKo Global Inc.
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