DexKo Global Inc. Acquires Business of City Spring Ltd.

NOVI, Mich., March 19, 2024 /PRNewswire/ -- DexKo Global Inc., a global leader in highly engineered trailer running gear, chassis assemblies, and related specialized components, announced today that is has completed the acquisition of the business of City Spring & Axle Ltd., Pacific Spring & Axle Ltd., and Spring Service Ltd. (collectively "City Spring"), headquartered in Edmonton, Alberta through its wholly-owned subsidiary Dexter Axle Company LLC. ("Dexter").

Founded in 1956 by Pep and Jim Bassani, City Spring operates out of 4 locations in Western Canada. Two locations, Edmonton and Calgary in Alberta, operate under the City Spring & Axle Ltd. name as a distributor of truck & trailer parts, axle and spring manufacturing, and also offer service for trucks & trailers. The Regina, Saskatchewan location offers both service and parts distribution under the name Spring Service Ltd.  Pacific Spring & Axle manufactures axles and distributes parts out of Langley, British Columbia.

"The diversity of the City Spring business was a key factor in this strategic acquisition," states Adam Dexter, CEO, Dexter. "Dexter identified a need to grow its business in Canada to support the trailer and truck industries. The addition of the City Spring team, locations, and customers will help build out the network in Canada. We truly feel this is an excellent fit for both the employees and customers at City Spring and Dexter."

Dexter is owned by DexKo Global Inc., formed in 2015. Dexter is headquartered in Elkhart, Indiana, employing over 3,800 people in the U.S. and Canada, operating over 20 manufacturing facilities and over 50 company-owned specialty distribution locations. Founded in 1960, Dexter has earned a reputation as a trusted brand serving utility trailer, recreational vehicle, marine, heavy-duty, agricultural, and specialty equipment manufacturers, distribution partners, and dealers across North America.

"My father, Jim Bassani, started City Spring & Axle Ltd. in 1956 with a vision too offer high quality spring and suspension parts and service," states Shirley Kosick, a City Spring Shareholder. "Recognizing the value of new business opportunities, City Spring expanded to Regina, Saskatchewan; Langley, British Columbia; and Calgary, Alberta. As the business grew and in order to fulfill customers' needs, City Spring became a leading manufacturer and distributor of axles in Western Canada. Jim made a strong mark on the industry as a fair-minded and compassionate employer with high standards for workmanship and customer service. We feel Dexter is an excellent partner to take over my father's business legacy."

"City Spring complements our earlier acquisition of Cerka Industries as well as the additional specialty distribution and manufacturing locations already under the DexKo umbrella in Canada," said Fred Bentley, CEO of DexKo Global. "Our strategic focus of expanding our reach into Canada will further support our ability to service customers across North America."

DexKo Global Inc. is the world's leading supplier of advanced chassis technology, chassis assemblies and related 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 approximately 7,000 associates with over 50 production facilities and over 70 specialty distribution locations. For more information, please go to www.dexko.com.

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SOURCE DexKo Global Inc.