Dexter to buy IMT Group heavy and light duty axle assets
January 6, 2017 – DexKo Global Inc. has reached an agreement to purchase the heavy duty axle and suspension manufacturing assets of Ingersoll Axles, along with the light duty axle manufacturing assets of Standen’s from the IMT Group.
Ingersoll Axles has been a leading supplier of specialized heavy duty trailer axles and suspensions across North America for over 55 years. Dexter intends to acquire the manufacturing locations in Ingersoll, Ont.; Calgary, Alta.; and Indianapolis, In.
Once complete, Ingersoll Axles and Standen’s Light Duty Axles will operate as one ongoing business within the Dexter group. The companies expect the transaction to close by the end of 2016.
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.
Source: DexKo Global.