ROCKWELL AMERICAN HAS BEEN ACQUIRED BY DEXTER
Birmingham, Michigan – September 8, 2016 – Angle Advisors is pleased to announce that Dexter, a subsidiary of DexKo Global, Inc. (“DexKo”), has acquired Quality / Century Holdings Corporation (“Rockwell American” or the “Company”). Angle Advisors acted as the exclusive investment banking advisor to Rockwell American in completing this transaction.
Based in Azle, TX, Rockwell American is one of the nation’s premier manufacturers and distributors of trailer components, including axles, leaf springs, fenders, tires and wheels, jacks and couplers, and a variety of other components across nearly 25,000 SKUs. Serving nearly 6,000 customers, Rockwell American’s product applications span a wide variety of end markets including housing, construction, agriculture, oil & gas, and the aftermarket. The Company is comprised of over 400 employees at its 5 manufacturing locations and 16 distribution branches across the United States.
“We are extremely excited about the opportunity to bring the Rockwell American business under the Dexter / DexKo umbrella,” stated Fred Bentley, CEO of DexKo. “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.”
“The team at Rockwell American is very excited by the opportunities afforded us through our new partnership with Dexter,” replied 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. Further, we would like to thank Angle Advisors for their hard work and relentless support in this transaction. Their deep industry knowledge and persistence throughout the process was critical to our ultimate success.”
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 facilities in Indiana, Georgia, Oklahoma, California, and Tennessee. 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. For more information, please visit www.dexteraxle.com.
DexKo Global, which is majority owned by a fund managed by The Sterling Group, was formed in 2015 by combining Dexter and AL-KO Vehicle Technology, a European designer and manufacturer of trailer axles, trailer and caravan components, chassis and motorized chassis. The combination of these two companies created a global leader in the trailer axle and chassis supply industry with over 130 years of trailer and caravan componentry experience and sales approaching nearly $1 billion. For more information, please visit www.dexko.com.
Founded in 1982, The Sterling Group is a private equity investment firm that targets controlling interests in basic manufacturing, distribution and industrial services companies. Typical enterprise values of these companies range from $100 million to $750 million. Sterling has sponsored the buyout of 48 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $2.4 billion of assets under management. For more information, please visit www.sterling-group.com.
Angle Advisors, with offices in the United States, Germany, the United Kingdom, and China, specializes in mergers and acquisitions and capital raising with a particular emphasis on the vehicular and industrial sectors. The firm's professionals have completed 94 transactions since 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.
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