Elkhart-based Dexter Axle has acquired the axle, brake and actuation business assets of Atlanta-based Tie Down Engineering Inc. Financial terms of the deal were not disclosed, however a Dexter spokesman says it will create additional job opportunities in both Atlanta and Elkhart.
Dexter says Tie Down will continue operations through its manufactured housing, roofing, marine and industrial laser divisions. Fred Bentley, chief executive officer of Dexter parent DexKo Global Inc., says the acquisition broadens the company’s aftermarket offerings and allows for further growth in adjacent areas.
Tie Down Engineering President Dean Samuelson will continue to lead the business following the acquisition.
"We are excited to add the Tie Down axle, brake & actuation business to our marine product offering to better serve our customers," said Adam Dexter, chief executive officer of Dexter. "Tie Down’s product offering perfectly complements Dexter’s prior acquisitions, providing the market and our customers with a comprehensive product portfolio meeting all their needs."
The deal follows Dexter’s acquisition of Texas-based trailer product manufacturer Rockwell American, which was announced in late August.