DexKo Global Inc., makers of trailer running gear, chassis assemblies and related components, announced that its wholly-owned subsidiary, Dexter Axle Co., has acquired Provo, Utah-based Progress Mfg. Inc.
According to its new parent company, 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’ brands, Equal-i-zer Hitch and Fastway Trailer Products, are sold through an extensive dealer network in North America. For more than 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.
Dexter, headquartered in Elkhart, Ind., employs more than 3,800 people in the U.S. and Canada and operates 17 manufacturing facilities and 32 distribution locations. Founded in 1960, Dexter serves the utility trailer, RV, 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.”
“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,” said 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.”