DexKo Global Inc. announced that Dexter has acquired the axle, brake and actuation business assets from Tie Down Engineering Inc. located in Atlanta, Ga.
Tie Down was founded in 1969 by Chuck MacKarvich, serving the construction, utility, industrial and marine markets. The company will continue to provide products and services from its manufactured housing, roofing, marine and industrial laser divisions.
“By adding Tie Down’s axle, brake and actuation products to our marine product portfolio, we continue to improve our industry leading portfolio of customer solutions. This acquisition broadens our aftermarket offering and as all of our recent acquisitions have done, allows us further growth in adjacent areas,” stated DexKo Global CEO Fred Bentley in a press release. “I want to congratulate Chuck on the great business he built and we look forward to taking it to a new level of performance.”
“We are excited to add the Tie Down axle, brake and actuation business to our marine product offering to better serve our customers,” added Adam Dexter, president and CEO of Dexter. “Our plan is to offer the best portfolio of products satisfying each of our customer’s needs across the market. Tie Down’s product offering perfectly complements Dexter’s prior acquisitions of UFP and Titan, providing the market and our customers with a comprehensive product portfolio meeting all their needs.”
Dean Samuelson, president of Tie Down Engineering, will continue to lead the acquired business. “We look forward to offering Tie Down axles, brakes, and actuation to an expanded market, offering the most comprehensive marine running gear in the industry to support all of our combined customers’ requirements,” stated Samuelson. “Becoming part of the Dexter family will help us grow our business with the backing of the industry leader. I am confident that this will be a smooth transition for both our customers and employees.”
DexKo Global and Dexter are majority owned by a fund managed by The Sterling Group, an operationally-focused middle market private equity firm based in Houston, Texas with $2.2 billion of assets under management.