CPE News (1.19.2024) – DexKo Global Inc., a business of Brookfield Business Partners L.P. (NYSE: BBUC, BBU; TSX: BBUC, BBU.UN), has acquired Cerka Industries Ltd. Financial terms were not disclosed
Founded by Peter Cerka in Oakville Ontario, Milton, Ontario based Cerka Industries specializes in manufacturing trailer axles and import trailer parts supplied to Dealers and OEMs across Canada.
Cerka Industries will join Elkhart, Indiana based Dexter, a business of DexKo Global Inc.
Founded at the end of 2015 through the combination of DEXTER and AL-KO Vehicle Technology, Novi, Michigan based DexKo Global Inc. is the world’s largest manufacturer and specialty distributor of highly-engineered solutions critical to the safety and performance of towable applications.
Brookfield Business Partners L.P., together with institutional partners, acquired DexKo Global from KPS Capital Partners, LP for US $3.8 billion on October 4 2021, comprising US $1.1 billion of equity, US $2.6 billion of debt, and US $30 million of contingent consideration. Brookfield Business Partners L.P. paid US $396 million for its 35% of economic interest and has 100% voting control in DexKo.
photo credit: Cerka Industries
News Release
DexKo Global Inc. Acquires Cerka Industries Ltd.
NOVI, Mich., Jan. 16, 2024 /CNW/ — DexKo Global Inc., a global leader in highly engineered trailer running gear, chassis assemblies and related components, announced today that is has completed the acquisition of Cerka Industries Ltd. (“Cerka”) located in Milton, Ontario.
Cerka specializes in manufacturing trailer axles and distributing trailer components to dealers and OEMs across Canada.
“Adding the Cerka team to the Dexter organization will further support our distribution network for the trailer dealers and OEM customers in Canada,” said Adam Dexter, CEO, Dexter. “This strategic partnership supports our dedication to building an extensive network supplying high-quality products to the Canadian marketplace.”
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, operates 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 the utility trailer, recreational vehicle, marine, heavy-duty, agricultural, and specialty equipment manufacturers, distribution partners, and dealers across North America.
Leigh-Ann Morris, Cerka lead shareholder commented, “Since 1976, my father, Peter Cerka, worked tirelessly to build Cerka Industries. It was his lifelong passion. We are pleased to pass the torch to DexKo, our trusted supplier for many years. We know DexKo is the perfect partner to continue our father’s legacy as a leader in the Canadian trailer industry.”
“We are energized by the growth opportunity that comes with the addition of Cerka,” states Fred Bentley, CEO of DexKo Global. “We continue to focus our strategies to grow our specialty distribution business and increase our reach in Canada, improving our ability to service dealer and OEM customers. Bringing the knowledgeable Cerka team to Dexter was a seamless and meaningful addition to our portfolio.”
Please send inquiries to:
2900 Industrial Parkway East
Stacey K. Miller, Director of Marketing
Elkhart, Indiana 46515
stacey.miller@dextergroup.com
Phone: 574.295.7888
Phone: 574.296.7228
DexKo Global Inc. is the world’s largest manufacturer and specialty distributor of highly-engineered solutions critical to the safety and performance of towable applications. 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 50 production facilities and 70 specialty distribution centers. For more information, please go to www.dexko.com.
SOURCE DexKo Global Inc.