DexKo Global, a portfolio company of KPS Capital Partners, has closed its previously announced acquisition of Preston Chassis Industries Pty Ltd. No financial terms were disclosed. Based in Australia, PCI is a provider of chassis.
NOVI, Mich. and KÖTZ, Germany and MELBOURNE, Australia, June 5, 2019 /PRNewswire/ — DexKo Global Inc., a global leader in highly engineered trailer running gear and chassis assemblies and related components, has acquired Preston Chassis Industries Pty Ltd. (“PCI”) through its wholly-owned Australian subsidiary AL-KO International Pty Ltd. (“AL-KO”).
PCI manufactures chassis and other products from multiple facilities in Campbellfield, Victoria and has earned a well-regarded reputation in the industry for its high-quality products and leading customer service.
DexKo Global CEO Fred Bentley said: “We are excited to proceed with integrating PCI as part of DexKo Global. PCI has built an impressive legacy based on its commitment to consistently provide high quality products to its loyal customer base. We look forward to building upon PCI’s success by offering existing and new customers more complete and innovative running gear solutions. This acquisition brings us closer to delivering our DexKo 2020 plan by growing our product offering available to our customers.”
“We welcome the PCI team at AL-KO and look forward to a successful integration,” said Harald Hiller, global President and CEO of AL-KO Vehicle Technology. “With the combination of PCI’s chassis know-how and our global manufacturing expertise, we can further enhance our product offering to meet the quality and service requirements of our customers.”
Regulatory approval for the acquisition has been received and the transaction closed on 1st June, 2019. Financial terms of the transaction were not disclosed.
KPS Capital Partners, LP
KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $5.0 billion of assets under management (as of March 31, 2019). 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 currently have aggregate annual revenues of approximately $5.8 billion, operate 100 manufacturing facilities in 27 countries, and have over 22,000 employees, directly and through joint ventures worldwide. The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.
DexKo Global Inc.
DexKo Global is the world’s leading supplier of advanced chassis technology, chassis assemblies and related components with more than 130 years of experience in trailer and caravan components. DexKo Global was founded at the end of 2015 through the combination of Dexter and AL-KO Vehicle Technology. With its headquarters in Novi, Michigan, the company employs more than 5,000 associates with 43 production facilities and 22 distribution centers. DexKo Global has a turnover of more than US$ 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.