Acquisition further strengthens the core business of AL-KO Vehicle Technology - bundling of competencies for lifting support systems
NOVI, Mich. and KÖTZ, Germany and NIEUW-VENNEP, Netherlands and ELSDORF, Germany, Dec. 7, 2017 /PRNewswire/ -- DexKo Global, a global leader in highly engineered running gear technology and chassis assemblies and related components, is planning to expand the core business of AL-KO Vehicle Technology through the acquisition of E&P Hydraulics, based in Nieuw-Vennep (Netherlands), its general importer for Germany, E&P Hydraulics Germany, as well as the company Reisemobil-Service Fischer in Elsdorf (North Rhine Westphalia) (collectively, "E&P"). This acquisition will expand AL-KO's product portfolio in the field of professional support system solutions for caravans, motorhomes and light commercial vehicles.
E&P is a leading manufacturer of professional levelling system solutions for caravans, motorhomes and light commercial vehicles. Since its founding more than 10 years ago, E&P has become a highly dynamic and innovative company, making a major contribution to the success of lifting support systems in the leisure vehicle market. With this acquisition, AL-KO will bundle all competencies in levelling systems. Reisemobil-Service Fischer in Elsdorf will be expanded into the Customer Service Center West, through which AL-KO will sell its core products in the future.
E&P's three owners – Eric Klinkenberg and Pierre Blom (E&P Netherlands) and Kay Fischer (E&P Germany / Reisemobil-Service Fischer) – will retain their key functions as a management team under the wings of AL-KO Vehicle Technology. The E&P brand will also be continued in its existing form as a product brand under the AL-KO umbrella brand.
Fred Bentley, CEO at DexKo Global said: "We are delighted that E&P is joining the DexKo family. E&P is known for its high quality products and strong customer focus and enjoys a very high reputation in our industry, which makes it an ideal fit within DexKo. We continue to see opportunities to improve our product offering and service levels through the type of value-added acquisitions that we have recently announced."
Harald Hiller, President of AL-KO Vehicle Technology, emphasized the significance of this transaction: "By integrating E&P we are strengthening and expanding the portfolio of our core business. I am particularly pleased that the E&P leadership team will be retained in its existing form and will support us in the future with their extensive know-how and expertise."
Eric Klinkenberg and Pierre Blom stated that this combination offers great opportunities for the future. "We are looking forward to becoming part of AL-KO Vehicle Technology. This opens up additional development potential and further access to international markets". Kay Fischer added: "Finding a strong and reliable partner in AL-KO was very important to us as this will enable us to continue on our growth track".
Financial terms of the transaction were not disclosed. Completion of the transaction is subject to customary closing conditions and regulatory approvals.
DexKo Global is a portfolio company of KPS Capital Partners, LP ("KPS"). KPS is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $5.2 billion of assets under management.
KPS Capital Partners, LP KPS is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $5.2 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 over $6.6 billion, operate 162 manufacturing facilities in 30 countries, and employ approximately 49,000 associates, directly and through joint ventures worldwide. The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.
DexKo Global Inc. DexKo Global is the leading global supplier of highly engineered running gear technology, chassis assemblies and related components with over 130 years of trailer and caravan componentry experience. DexKo Global was formed at the end of 2015 through the combination of Dexter and AL-KO Vehicle Technology. The Company is headquartered in Novi, Michigan and employs over 4,500 employees with 39 manufacturing facilities and 25 distribution. DexKo Global Inc. has a turnover of more than US$ 1 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 specialises in sophisticated innovation processes and has received many awards for this.
E&P Hydraulics Over the past decade E&P Hydraulics has developed into one of the leading manufacturers of professional hydraulic levelling system solutions for motorhomes and caravans. Headquartered in the Netherlands, E&P Hydraulics markets and sells its products worldwide. E&P Hydraulics Germany is the general importer for Germany with the associated Service Center for leisure vehicles Reisemobil-Service Fischer in Elsdorf near Cologne.