DexKo Global Inc.
39555 Orchard Hill Place
Novi, MI 48375
Ph: (248) 533-0029
Fx: (877) 464-1136
KPS CAPITAL PARTNERS TO ACQUIRE DEXKO GLOBAL
KPS Capital Partners, LP (“KPS”) announced today that, through a newly formed affiliate, it has signed a definitive agreement to acquire DexKo Global Inc. and its affiliates (“DexKo Global” or the “Company”). Financial terms of the transaction were not disclosed.
DexKo Global is the leading global supplier of highly engineered running gear technology, chassis assemblies and related components with over 130 years of trailer and caravan componentry experience. DexKo Global was formed at the end of 2015 through the combination of Dexter and AL-KO Vehicle Technology. The Company is headquartered in Novi, Michigan and employs over 4,500 employees with 39 manufacturing facilities and 25 distribution centers across the globe.
Raquel Palmer, a Partner of KPS, said, “We are very excited to acquire DexKo Global, a market leader with industry-leading quality, customer service and product innovation. We look forward to working with Chief Executive Officer Fred Bentley and his management team to aggressively grow DexKo Global both organically and through strategic acquisitions. We were drawn to DexKo Global’s entrepreneurial management team and the opportunity to provide our manufacturing expertise and other strategic, operational and financial resources to its global platform. We are pleased that DexKo Global’s existing controlling shareholder, The Sterling Group L.P. will continue to own a minority stake, affirming the future growth and value creation potential of DexKo Global.”
Fred Bentley, Chief Executive Officer of DexKo Global, said, “The entire DexKo Global team is excited to partner with KPS as we continue to execute our strategy to be the preferred global supplier of highly engineered trailer axles, chassis assemblies and related componentry. DexKo Global strives to provide our customers with unparalleled quality, technology and customer service and KPS shares the same focus and commitment as evidenced by many successful investments in industrial businesses over the past 20 years. KPS’ focus on manufacturing excellence and significant capital resources will accelerate DexKo Global’s many ongoing growth initiatives.”
Completion of the transaction is expected around the middle of 2017 and is subject to customary closing conditions and approvals.
Paul, Weiss, Rifkind, Wharton and Garrison LLP served as legal counsel to KPS and its affiliates.