Dexter, a designer and manufacturer of trailer axles, brakes and related components in North America, has agreed to acquire AL-KO Vehicle Technology from AL-KO Kober SE.
The combination of the two companies, which will be named DexKo Global Inc., is expected to close at year end.
At closing, Fred Bentley, current Dexter board member and former CEO of Maxion Wheels, will be 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, will be named Vice Chairman of the Board.
“I am excited by the opportunity to lead and bring together two world class organizations,” Bentley says. “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.”
DexKo Global Inc. will be majority owned by funds managed by The Sterling Group, Dexter’s current majority owners. 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.
“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,” Adam Dexter says.
