Dexter Axle Acquires Iowa Company
ELKHART - Elkhart-based Dexter Axle Co. has acquired an Iowa-based manufacturer. Terms of the deal to purchase the company, Silent Drive, were not disclosed.
Silent Drive specializes in the heavy duty suspension market. The company produces air suspensions for liftable tags and pushers, drive axle suspensions, as well as primary and auxiliary lift axles on trailers.
The move will expand Dexter's reach and expand its footprint in Iowa. Dexter currently employs more than 2,400 people in the U.S. and Canada and operates 16 manufacturing facilities.
"The addition of Silent Drive to Dexter's already-diverse product portfolio will further expand our specialty heavy duty and suspension capabilities, allowing continuous growth for both brands," said Adam Dexter, president & chief executive officer, Dexter. "Our companies' core foundations of innovation and delivering a quality product align exceptionally well."