DexKo Global Acquires Progress Mfg. Inc.

Industry News,

NOVI, Mich. DexKo Global Inc. announced that its wholly-owned subsidiary Dexter Axle Company ("Dexter") acquired Progress Mfg. Inc. (“Progress”), located in Provo, Utah.

Progress is a leading manufacturer of high-quality, custom-engineered, safety-critical towing and trailering products, such as integrated sway control and weight distribution hitches. Progress’ well-known brand names Equal-i-zer® Hitch and Fastway® Trailer Products are sold through an extensive dealer network in North America. For over 75 years, Progress has been focused on designing and making award-winning towing products such as hitches, ball mounts, wheel chocks, and other trailer accessories that keep travelers safe on the road.

Dexter, headquartered in Elkhart, Indiana, employs over 3,800 people in the U.S. and Canada and operates 17 manufacturing facilities and 32 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 and distribution partners.

“The products and people at Progress make a great addition to the Dexter portfolio, rounding out an already diverse offering,” said Fred Bentley, CEO of DexKo Global. “Together, Dexter and Progress will be able to further support our collective customers. We look forward to working with the Progress team to continue to offer innovative new towing solution products.”

Adam Dexter, President and CEO of Dexter added, “This truly is a great fit for Dexter and Progress; both companies have a long-standing focus on high-quality products and outstanding customer service with a strong brand recognition in the towing industry.”

“We are excited to join the Dexter family. This is a great opportunity to continue to grow the brands we have developed over the past 75 years,” stated Jed Anderson, CEO of Progress. “Partnering with Dexter, a strong, reputable organization, will support our next steps in our long-term growth strategy, allowing us to continue developing best-in-class products with meaningful customer relationships.”

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About 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 7,000 associates with 52 production facilities and 49 distribution centers.  DexKo Global Inc. has a turnover of more than US$ 2.2 billion.