December 24, 2013
Dexter Axle says it has completed the acquisition of Unique Functional Products UFP.
“UFP has a long and successful history in the marine industry, which is an important adjacency for Dexter Axle,” says Adam Dexter, CEO of Dexter Axle – a company that designs and manufactures trailer axle, brake and suspension assemblies for industrial and utility trailer and RV markets. “We look forward to strengthening our relationship with UFP’s customers as well as offering Dexter’s customers access to UFP’s premium products.”
“This is an exciting time at Dexter Axle,” Kevin Garland, Partner at The Sterling Group, a private equity firm and parent of Dexter Axle. “Dexter’s historical end markets grew nicely in 2013 and have a strong outlook for 2014. The company continues to improve its manufacturing and customer service capabilities to better serve its customers. The acquisition of UFP allows Dexter to extend this strategy of excellence in manufacturing and customer service into the marine markets.”
Sterling acquired Dexter in a carve-out from Tomkins in November 2012.