DexKo Global Inc ("DexKo") has reached an agreement to acquire the European towbar solutions specialist Brink International. The Netherlands-based company expands DexKo's portfolio into the area of engineered towing and carrying solutions.
NOVI, Mich., KÖTZ, Germany, and STAPHORST, Netherlands, July 20, 2021 /PRNewswire/ -- DexKo Global ("DexKo"), a global leader in highly engineered trailer running gear, chassis assemblies, and related components, is pleased to announce that its subsidiary AL-KO Vehicle Technology Group GmbH ("AL-KO") has entered into an agreement with H2 Equity Partners to acquire the Dutch towbar manufacturer Brink International ("Brink"). Financial terms of the transaction were not disclosed. The transaction is subject to customary closing conditions and regulatory approval.
Founded in 1903, Brink has more than 100 years of expertise in the manufacturing industry. The company's product portfolio includes fixed, detachable, retractable and next generation towbars. More than 25 million vehicles globally are equipped with Brink products. The connection between towbars and trailer couplings expands DexKo's technological scope.
Fred Bentley, CEO at DexKo, emphasized the importance of this transaction: "We are incredibly excited about adding Brink to our portfolio. Brink offers a leading market position and another premium brand to DexKo. The company is characterized by its wide range of high quality, innovative products and the superior service it provides to customers."
Harald Hiller, President and CEO at AL-KO, continued: "The strategic fit between Brink and DexKo could not be better. Both companies offer a highly engineered product portfolio critical to safety and performance. This acquisition allows us to expand our product portfolio and operations footprint and gives us access to new regions."
Sven Arend, CEO at Brink, added: "This transaction brings great opportunities for both companies. We look forward to working with the DexKo and AL-KO teams and to further developing the business together."
About AL-KO Vehicle Technology Group The AL-KO Vehicle Technology Group is a globally active technology group. As a supplier of high-quality chassis and suspension components for trailers, leisure vehicles and commercial vehicles, the group is synonymous with functional excellence, superb comfort as well as innovations to enhance driving safety. The AL-KO Vehicle Technology Group includes the 14 international brands AL-KO, Aguti, Bankside Patterson, Bradley, CBE, cmtrailer parts, E&P Hydraulics, G&S Chassis, Hume, Nordelettronica, Preston Chassis, SAFIM, SAWIKO and Winterhoff. Founded in 1931, the Group today generates sales of around 800 million US dollars with around 3,000 employees and more than 30 sites worldwide. AL-KO Vehicle Technology Group is a wholly owned subsidiary of DexKo Global, a portfolio company of KPS Capital Partners. For more information about visit www.alko-tech.com.
About DexKo Global DexKo Global Inc. 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 associates with 50 production facilities and 50 distribution centers. DexKo Global Inc. has a turnover of more than US$ 2.0 billion and AL-KO is a wholly owned subsidiary of DexKo Global, Inc. and has been a leading manufacturer of trailer axles and trailer brakes for over 60 years for utility trailer, recreation vehicle, heavy duty, manufactured housing, agricultural, marine, and specialty trailer applications. For more information visit www.dexko.com. DexKo is majority owned by funds managed by KPS Capital Partners.
About KPS KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $12.8 billion of assets under management (as of March 31, 2021). 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 approximately $13.5 billion, operate 156 manufacturing facilities in 23 countries, and have over 32,000 employees, directly and through joint ventures worldwide (as of March 31, 2021, pro forma for recent acquisitions). The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.
About Brink Group Brink Group is one of the European market leaders in towing systems with over 75 years' experience in the automotive sector. Under the motto "Your Perfect Fit", the Brink Group offers an easy and safe connection between practically any vehicle and the load you want to carry or tow. With this, Brink Group enables millions of end users all over the world to go out and live their active lives. So far, more than 25 million cars have been fitted with a Brink towbar. Brink Group, with its headquarters in Staphorst, the Netherlands, has approximately 700 employees in 8 countries and manufacturing locations in the Netherlands, France, South Africa and Thailand. More information is available at www.brinkgroup.eu.
Media contact: AL-KO Vehicle Technology Group Hans Posthumus Ichenhauser Straße 14 89359 Kötz +49 8221 97-8335 [email protected]