Elkhart-based DexKo Global Inc. has announced the acquisition of a German manufacturer by a business unit also based in the European country. AL-KO Vehicle Technology, which DexKo took over in October, says the addition of Winterhoff Group will bolster its jockey wheel, coupling and fitting offerings.
The AL-KO deal closed in January. DexKo says the companies are history together, as Winterhoff has been an AL-KO supplier.
AL-KO President Harald Hiller says "Winterhoff has been a successful company for decades and is very well positioned in the market with its products. The strategic fit to AL-KO could not be better, because this integration will further strengthen our core business, which will allow us to service our customers with an even broader range. We will continue the brands of Winterhoff and ALBE Berndes in the existing form."
Winterhoff Managing Director Rainer Winterhoff calls the combination a "perfect fit" and says "this is the ideal time, also in light of the rapid globalisation, to put our business on a promising path to a joint future with this merger."
DexKo says it has spent the months since the AL-KO acquisition improving the business and executives are eyeing aggressive growth. DexKo CEO Fred Bentley says "we believe by adding Winterhoff to our business we can meaningfully grow a strong brand by applying our significant resources to change the growth curve. It is the first of many moves we will be making and it is an exciting time to be part of the DexKo organization."
If the deal meets all regulatory approvals, it is expected to take effect August 31.
DexKo Global includes the Dexter Axle business.