Dexter parent makes another Canadian acquisition
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Michigan-based manufacturing company DexKo Global Inc. has acquired the City Spring group of companies headquartered in Edmonton, Alberta. Financial details were not disclosed, but DexKo said the companies will become part of its Elkhart-based subsidiary, Dexter Axle Co. LLC.
The companies are City Spring & Axle Ltd. in Edmonton and Calgary in Alberta, Spring Service Ltd. in Regina, Saskatchewan, and Pacific Spring & Axle in Langley, British Columbia.
City Spring is a distributor of truck and trailer parts and a manufacturer of axles and springs. Spring Service provides service and parts distribution, while Pacific Spring manufactures axles and distributes parts.
“The diversity of the City Spring business was a key factor in this strategic acquisition,” Dexter CEO Adam Dexter said in a news release. “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.”
Dexter did not specify how many people are employed by City Spring. A request for more information from Inside INdiana Business was not returned.
City Spring was founded in 1956 by Jim Bassani, and his daughter and City Spring shareholder Shirley Kosick said the company believes Dexter is “an excellent partner to take over my father’s business legacy.”
The acquisition comes two months after DexKo Global announced its acquisition of Milton, Ontario-based Cerka Industries Ltd. DexKo CEO Fred Bentley says the City Spring acquisition complements the Cerka deal as well as the specialty distribution and manufacturing locations it already has in Canada.
“Our strategic focus of expanding our reach into Canada will further support our ability to service customers across North America,” Bentley said.
Elkhart-based Dexter Axle employs more than 3,800 people at over 20 manufacturing facilities and 50 specialty distribution locations across the U.S. and Canada.