Dexter, a subsidiary of DexKo Global Inc, has agreed to acquire Salt Lake City-based Henderson Wheel & Trailer Supply Inc., a maker of sprung and torsion axles and fenders. No financial terms were disclosed. DexKo Global Inc, a portfolio company of KPS Capital Partners.
ELKHART, Ind., Nov. 20, 2017 /PRNewswire/ — DexKo Global Inc., a global leader in highly engineered trailer running gear, chassis assemblies and related components is pleased to announce that its subsidiary, Dexter, has agreed to acquire Henderson Wheel & Trailer Supply Inc., based out of Salt Lake City, UT. Henderson is a manufacturer of sprung and torsion axles and fenders as well as distributor of axles, trailer components and fenders.
“The addition of the Henderson product and manufacturing facilities, will complement the already extensive portfolio of products under Dexter while strengthening our presence in the Western U.S.,” stated Fred Bentley, CEO of DexKo Global. Bentley added, “We are now continuing with our DexKo 2020 plan. Our new owner, KPS, is providing full support to add highly engineered and high growth products to our globally leading running gear product offering.”
“This is an excellent opportunity to better serve all our customers with the addition of west-coast manufacturing capabilities,” adds Adam Dexter, President and CEO of Dexter. “Our focus will be to further enhance our commitment to the core Dexter principles of safety, quality, and customer service that have been the foundation of our success for over 50 years. By concentrating on these areas, we are confident that the addition of Henderson will bring value to all our mutual customers.”
“At Henderson, we are very proud of the legacy we have built since 1919. As a family run business, we are thrilled with the opportunity to continue growing our business while joining an even larger family,” said John Henderson, President of Henderson. “I am confident that uniting with Dexter, the industry leader, will be beneficial for both our customers and employees.”
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.
Dexter has been a leading manufacturer of trailer axles and trailer brakes for over 50 years for the utility trailer, recreation vehicle, heavy duty, manufactured housing, agricultural, marine, and specialty trailer markets. Dexter products are American made in highly automated manufacturing facilities in Indiana, Georgia, Oklahoma, California, Tennessee, Texas, Florida, Ontario, and Alberta. Since 1960, OEMs have installed more than 50 million Dexter axles with the assurance that they are providing a quality product that will enhance the safe operation of their trailers. Dexter Axle is ISO 9001:2015 certified. Dexter is a wholly owned subsidiary of DexKo Global, Inc. For more information visit www.dexteraxle.com.
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.