Dexter, a designer and manufacturer of trailer axles, brakes and related components, has completed the acquisition of AL-KO VT from AL-KO Kober SE.
The combination of the companies, renamed DexKo Global Inc., has created a trailer axle and chassis supply network with sales approaching nearly $1 billion.
DexKo Global Inc. is majority owned by funds managed by The Sterling Group, Dexter's current majority owners. The combined company includes AL-KO Kober SE as a significant shareholder. Dexter and AL-KO VT will remain under their current brands as market leaders in their respective geographies. Dexter's headquarters will remain in Elkhart, Indiana.
Headquartered in Kötz, Germany, AL-KO VT is a leading European designer and manufacturer of trailer axles, trailer and caravan components, chassis and motorized chassis. The company operates from over 20 locations around the world, including in Europe, Australia, South Africa, and China.
The two companies will be able to leverage shared resources and technology, as well as the advantages of a global footprint and significantly expanded scale.
Fred Bentley, Dexter board member and former CEO of Maxion Wheels, has been named President and CEO of DexKo Global Inc. Adam Dexter will continue in his current responsibilities as President and CEO of the US-based Dexter. Kevin Garland, a Partner at The Sterling Group, will continue as Chairman of the Board. Stefan Kober, CEO of AL-KO Kober SE, has been named Vice Chairman of the Board.
"I am excited by the opportunity to lead and bring together two world class organizations. We will focus on continuing to lead with great technology and customer service and to expand our strong market leadership positions. It is truly an exciting time for this new organization and we will use our collective strengths for the benefit of all of our customers, employees, suppliers and stakeholders," said Fred Bentley.
"Dexter prides itself on providing unparalleled quality, innovation and the highest levels of customer service," said Adam Dexter, CEO of Dexter. "The addition of AL-KO VT and formation of DexKo Global Inc. will enhance Dexter's resources and ability to introduce new technologies and products to better serve our loyal customer base."