Focus on expanding the core business of AL-KO Vehicle Technology
NOVI, Mich. and KÖTZ, Germany and TRENTO, Italy, July 31, 2018 /PRNewswire/ -- DexKo Global Inc., a global leader in highly engineered trailer running gear, chassis assemblies and related components, has signed an agreement to acquire CBE s.r.l. ("the CBE Group"), headquartered in Trento, Italy. The goal is to expand the core business of AL-KO Vehicle Technology by including system solutions for electronics. Financial terms of the transaction were not disclosed. The transaction is subject to customary closing conditions and regulatory approval.
The CBE Group is a leading European manufacturer and distributor of electronic components and wiring harnesses for motorhomes. In addition to its central location in Trento, CBE operates plants in Arco, Italy and in Soliman, Tunisia. The company develops and manufactures electronic solutions that are tailored to the specific needs of leisure vehicle manufacturers. Founded more than 40 years ago, the CBE Group offers customers high product quality and extensive expertise as an electronics system supplier. CEO and founder Bruno Conci plans to retire from the company and had therefore sought a strategic buyer for CBE.
Fred Bentley, CEO at DexKo Global: "We are delighted that CBE will become part of the DexKo Global Group. CBE enjoys an excellent reputation in the industry and is characterised by quality and reliability – the same values that DexKo and AL-KO Vehicle Technology represent. We are confident that, together with CBE and its product portfolio, we will be able to even better serve our customers in the leisure vehicle and light commercial vehicle segments."
Harald Hiller, President and CEO AL-KO Vehicle Technology: "We are pleased that Bruno Conci is handing over his life's work to us, and we will continue the business in his spirit. With CBE, we gain further access to the electronics sector and the integration into AL-KO Vehicle Technology will enable us to open up new product segments. At the same time, the acquisition helps us to expand our position as a leader in innovation and quality. I am particularly pleased that we were able to retain Paolo Moiola and Dorian Sosi, who already hold leadership positions, as future managing directors."
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 $6.4 billion, operate 120 manufacturing facilities in 25 countries, and employ over 25,000 associates, directly and through joint ventures worldwide. The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.
DexKo Global Inc.
DexKo Global is the world's leading supplier of advanced chassis technology, chassis assemblies and related components with more than 130 years of experience in trailer and caravan components. DexKo Global was founded at the end of 2015 through the combination of Dexter and AL-KO Vehicle Technology. With its headquarters in Novi, Michigan, the company employs more than 5,000 associates with 42 production facilities and 22 distribution centers. DexKo Global Inc. has a turnover of more than US$ 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 specialises in sophisticated innovation processes and has received many awards for this. ALOIS KOBER GMBH is a wholly owned subsidiary of DexKo Global, Inc., a portfolio company of KPS Capital Partners, LP.
SOURCE DexKo Global Inc.