NOVI, Mich. and AUCKLAND, New Zealand, July 26, 2018 /PRNewswire/ -- DexKo Global Inc., a global leader in highly engineered trailer running gear, chassis assemblies and related components, is pleased to announce that it has signed a definitive agreement to acquire CM Trailer Parts to expand its New Zealand operations. Financial terms of the transaction were not disclosed.
CM Trailer Parts is a privately owned New Zealand business and leading supplier of caravan and trailer axles, leaf springs, couplings and other trailer components, serving multiple market segments across New Zealand since 1988.
Fred Bentley, CEO at DexKo Global, said: "We are excited to welcome the CM Trailer Parts team to the DexKo organization. This acquisition brings a South Island distribution and product assembly facility into our New Zealand business footprint; and will help the company service the whole market better with our range of axle and brake products. We truly believe together is better for all of our businesses and this is our next step toward obtaining our DexKo 2020 vision."
The transaction has the strong endorsement of the owners of CM Trailer Parts including James Taylor who will remain within the business as General Manager, along with co-owners Alasdair Cleland and Mark Havis and other members of the leadership team.
"At CM Trailer Parts, we are very proud of the legacy we have built. Becoming part of the DexKo family will allow the business to continue to grow with the backing of the industry leader," said Mr Taylor. "I am confident that uniting with DexKo will be very beneficial for both our customers and employees."
Harald Hiller, Global President and CEO of AL-KO Vehicle Technology emphasized the benefits for customers: "We continue to add strong brands to our global portfolio and offer additional quality products to our customers. This integration will further expand our core business, which will allow us to service our customers with an even broader range of solutions."
"I am excited by the opportunity to integrate CM Trailer Parts into the DexKo organization," said AL-KO's Australia & New Zealand Managing Director Peter Mannfolk. "I look forward to the already successful CM Trailer Parts business continuing to service customers, whilst adding the additional support of AL-KO in New Zealand and the global expertise and resources of DexKo. Together is better and I look forward to giving our customers CM's strong presence in the aftermarket combined with AL-KO's strength in supplying manufacturers."
KPS Capital Partners, LP
KPS is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $5.4 billion of assets under management. For over two decades, the Partners of KPS have worked exclusively to realize significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries, including basic materials, branded consumer, healthcare and luxury products, automotive parts, capital equipment and general manufacturing. KPS creates value for its investors by working constructively with talented management teams to make businesses better, and generates investment returns by structurally improving the strategic position, competitiveness and profitability of its portfolio companies, rather than primarily relying on financial leverage. The KPS Funds' portfolio companies have aggregate annual revenues of $6.4 billion, operate 120 manufacturing facilities in 25 countries, and employ over 25,000 associates, directly and through joint ventures worldwide. The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.
DexKo Global Inc.
DexKo Global is the world's leading supplier of advanced chassis technology, chassis assemblies and related components with more than 130 years of experience in trailer and caravan components. DexKo Global was founded at the end of 2015 through the combination of Dexter and AL-KO Vehicle Technology. With its headquarters in Novi, Michigan, the company employs more than 5,000 personnel with 42 production facilities and 22 distribution centers. DexKo Global Inc. has a turnover of more than US$ 1.5 billion.
ALOIS KOBER GMBH
Founded in 1931, AL-KO Vehicle Technology is now a global technology company with sites in Europe, South America, Asia and Australia. A supplier of high quality chassis components for trailers, leisure vehicles and light commercial vehicles, AL-KO is synonymous with ergonomic and functional excellence, superb comfort as well as innovations to enhance road safety. The company specializes in sophisticated innovation processes and has received many awards for this.
SOURCE DexKo Global Inc.