Dexter Signs Agreement to Purchase Heavy and Light Duty Axle Assets from the IMT Group
ELKHART, Ind., Dec. 21, 2016 /CNW/ -- DexKo Global Inc., the global leader in highly engineered trailer running gear and chassis assemblies and related components, announced that Dexter has reached an agreement to purchase 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 been a leading supplier of specialized heavy duty trailer axles and suspensions across North America for over 55 years. Dexter intends to acquire the manufacturing locations in Ingersoll, Ontario; Calgary, Alberta; and Indianapolis, IN.
Once complete, Ingersoll Axles and Standen's Light Duty Axles will operate as one ongoing business within the Dexter group. The companies expect the transaction to close by the end of 2016.
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.
| Please send inquiries to: |
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| 2900 Industrial Parkway East |
Jim Berry, Director of Marketing |
| Elkhart, Indiana 46515 |
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| Phone: 574.295.7888 |
Phone: 574.296.7343 |
| Fax: 574.296.7368 |
Dexter has been a leading manufacturer of trailer axles and trailer brakes for over 50 years for the utility trailer, recreation vehicle, heavy duty, manufactured housing, agricultural, marine, and specialty trailer markets. Dexter products are American made in highly automated facilities in Indiana, Georgia, Oklahoma, California, and Tennessee. Since 1960, OEMs have installed more than 50 million Dexter Axles with the assurance that they are providing a quality product that will enhance the safe operation of their trailers. Dexter Axle is ISO 9001 certified. For more information visit www.dexteraxle.com.
SOURCE DexKo Global Inc.
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