DexKo Global Inc., global supplier of trailer running gear, chassis assemblies and related components, announced that Dexter Axle Co. has acquired Azle, Texas-based Rockwell American from American Industrial Partners. DexKo Global was formed through Elkhart, Ind.-based Dexter Axle’s acquisition of German manufacturer AL-KO Vehicle Technology (AL-KO VT).
According to a press release, Rockwell has been a leading supplier of trailer axles, leaf springs, fenders and other trailer components serving multiple market segments across North America for over 35 years. Rockwell has five manufacturing locations and operates 16 distribution branches across the United States. Rockwell American will operate as a division of Dexter.
“We are extremely excited about the opportunity to bring the Rockwell American business under the Dexter/DexKo umbrella,” stated Fred Bentley, CEO of DexKo Global. “The acquisition of Rockwell complements and will be part of our Dexter business allowing DexKo to continue to accelerate our growth with great new people, products and segments. We continue to add strong brands to our portfolio and offer more quality products to our customers. Combining this with Dexter’s announcement extending our already industry leading warranty, shows our commitment to real quality and engineering solutions for our customers. It really is an exciting time to be part of the DexKo organization.”
“This is a great opportunity to bring these two companies together and it will allow us to concentrate on partnering with our current and new customers,” noted Adam Dexter, president and CEO of Dexter.
Dexter added that “the immediate focus is to concentrate on enriching employee welfare by providing a safe, productive workplace while adopting Dexter’s philosophy of best in class customer service and quality, dependable products, and operational excellence. By focusing on these areas, we are confident we will help Rockwell continue to be a valuable supplier to all customers,” states Dexter.
“The team at Rockwell American is very excited by the opportunities afforded us through our new partnership with Dexter Axle,” stated Chris Dietemann, president of Rockwell American. “In the fast changing and increasingly competitive market we serve, it will give us access to Dexter’s world-class manufacturing expertise, enabling us to continuously improve product quality and to maintain our competitive position in the market.”
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 $2.4 billion of assets under management.