NOVI, Mich., Sept. 23, 2019 /CNW/ -- DexKo Global Inc.("DexKo"), a global leader in highly engineered trailer running gear, chassis assemblies and related components, is pleased to announce that it has acquired Safim S.p.A. ("Safim"). Founded in 1977, Safim is a leading manufacturer of highly engineered hydraulic braking system components used in a range of off-highway equipment applications. Based in Modena, Italy, Safim manufactures products primarily in its facilities in Modena and Pune, India and serves customers worldwide across multiple end-markets.
"We are extremely excited to continue to grow our business through the acquisition of Safim," stated Fred Bentley, Chief Executive Officer of DexKo. "Safim is an innovative leader in its product categories with a legacy built on providing exceptional products to customers." Bentley added, "This acquisition further extends DexKo's reach into new products and end-markets and provides additional avenues for organic and inorganic growth. We look forward to uniting the strengths of the Safim team with those of DexKo and AL-KO Vehicle Technology ("AL-KO") to continue to grow the combined business."
Harald Hiller, President and CEO AL-KO, said "Safim's position as a leading manufacturer of highly engineered products for diverse end-markets fits well with DexKo and AL-KO's strategy. Safim has grown significantly over the past few years based on its engineering capabilities and customer focus. We are pleased to welcome the Safim team to DexKo and to help them build upon the company's strong foundation."
"I am pleased to see Safim joining a successful organization with a significant heritage and a solid global footprint as the natural next step in its long-term journey," commented Eronne Mamei, founder and Chairman of Safim. "I believe the transaction will bring many opportunities for Safim and its employees, and I look forward to further developing the company together with DexKo," added Pietro Santoro, Chief Executive Officer of Safim.
DexKo Global is a portfolio company of KPS Capital Partners, LP ("KPS"). KPS is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $5.1 billion of assets under management (as of June 30, 2019).
KPS Capital Partners, LP
KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $5.1 billion of assets under management (as of June 30, 2019). For over two decades, the Partners of KPS have worked exclusively to realize significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries, including basic materials, branded consumer, healthcare and luxury products, automotive parts, capital equipment and general manufacturing. KPS creates value for its investors by working constructively with talented management teams to make businesses better, and generates investment returns by structurally improving the strategic position, competitiveness and profitability of its portfolio companies, rather than primarily relying on financial leverage. The KPS Funds' portfolio companies have aggregate annual revenues of approximately $6.7 billion, operate 106 manufacturing facilities in 28 countries, and have approximately 24,000 employees, directly and through joint ventures worldwide. The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.
DexKo Global Inc.
DexKo Global Inc. is the world's leading supplier of advanced chassis technology, chassis assemblies and related components with more than 130 years of experience in trailer and caravan components. DexKo Global was founded at the end of 2015 through the combination of Dexter and AL-KO Vehicle Technology. With its headquarters in Novi, Michigan, the company employs more than 5,000 associates with 44 production facilities and 23 distribution centers. DexKo Global Inc. has a turnover of more than US$ 1.5 billion.
ALOIS KOBER GMBH
Founded in 1931, AL-KO Vehicle Technology is now a global technology company with sites in Europe, South America, Asia and Australia. A supplier of high quality chassis components for trailers, leisure vehicles and light commercial vehicles, AL-KO is synonymous with ergonomic and functional excellence, superb comfort as well as innovations to enhance road safety. The company specialises in sophisticated innovation processes and has received many awards for this. ALOIS KOBER GMBH is a wholly owned subsidiary of DexKo Global Inc., a portfolio company of KPS Capital Partners, LP.
Safim is a leading manufacturer of products and solutions that enable the safe and efficient functioning of hydraulic systems on-board agricultural, construction and material handling vehicles. The Group produces valves and master cylinders focusing on hydraulic braking applications and other complementary components for hydraulic functionalities. Safim develops highly advanced mission-critical solutions combining robust engineering know-how with the highest degree of customization and the best functional performance on the market for demanding OEM customers. The company is based in Modena (Italy), one of the leading districts globally for mechanical engineering, with subsidiaries in Germany, France, the USA and India.