DexKo Global signs agreement to acquire Preston Chassis Industries
DexKo Global Inc., a global leader in highly engineered trailer running gear and chassis assemblies and related components, is pleased to announce that it has signed an agreement to acquire Preston Chassis Industries Pty Ltd. (“PCI”) through its wholly-owned Australian subsidiary AL-KO International Pty Ltd. (“AL-KO”).
PCI has a long history in the Australian caravan industry, supplying high quality chassis for over 40 years under the direction of its founders, Fernando “Fred” Pasquale and Orazio “Ozzie” Mammola. PCI manufactures chassis and other products from multiple facilities in Campbellfield, Victoria and has earned a well-regarded reputation in the industry for its high-quality products and leading customer service. Fred and Ozzie sought a strategic buyer who would continue their legacy and continue to grow the business upon their retirement.
Fred Bentley, CEO at DexKo Global said: “We are pleased that PCI will become part of DexKo Global. PCI has built an impressive legacy based on its commitment to provide high quality products to its loyal customers reliably. We look forward to building upon PCI’s success by offering existing and new customers more complete and innovative running gear solutions. This acquisition brings us closer to delivering our DexKo 2020 plan by growing the product offerings available to our customers.”
“As a long-time business partner & supplier, AL-KO, as part of DexKo Global, understands and values what is special about the PCI business and has the ambition and expertise to build upon our reputation and drive the business further” said Founder Fred Pasquale. “I know that our customers will be in excellent hands”. “PCI has established a remarkable reputation in the caravan industry over the last several decades,” said Harald Hiller, global President and CEO of AL-KO Vehicle Technology, who also emphasized the benefits for mutual and new customers “Adding PCI to our Australian business allows AL-KO to offer our collective customers a broad portfolio of products and systems to meet their quality and service requirements.”
“I am excited by the opportunity to integrate PCI into the DexKo organisation” said AL-KO’s Australian Managing Director Peter Mannfolk. “I look forward to the already successful PCI business continuing to service customers, whilst adding the additional support of AL-KO in Australia and the global chassis manufacturing expertise of the DexKo group to take chassis manufacturing in Australia to new heights.”
Financial details concerning the deal will not be disclosed. The transaction is subject to standard conditions and regulatory approval. 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 $5.4 billion of assets under management.