DexKo Global Inc. announced that its wholly-owned subsidiary Dexter Axle Co., has acquired 100 percent of the equity interests in Redneck Inc. and Redline Products LLC, headquartered in Springfield, Mo. Financial terms of the transaction were not disclosed.
Since 1979, Redneck has supplied trailer axles and other trailer components across North America. Operating 20 locations in 17 states and employing nearly 400 people. Redneck distributes thousands of stocked trailer parts and accessories to manufacturer, dealer, and retail customers.
Dexter, headquartered in Elkhart, Ind., employs more than 3,100 people in the U.S. and Canada and operates 17 manufacturing facilities and 14 distribution locations. Founded in 1960, Dexter said it has earned a reputation as a trusted brand serving the utility trailer, RV, marine, heavy duty, agricultural, and specialty equipment manufacturers and distribution centers.
The partnership between Dexter and Redneck offers opportunities to enhance service with an expanded geographical footprint, provide better coverage to customers with a diverse product portfolio, and offer greater value to its business partners, Dexter said.
“Adding Redneck under Dexter’s umbrella demonstrates our long-standing commitment to servicing our customers to the highest level. This partnership will further our ability to provide quality products to manufacturers, distributors, dealers, and service centers,” said Fred Bentley, CEO of DexKo Global. “The acquisition of Redneck will complement the DexKo family of brands with great people, products, facilities, customers, and provide the opportunity to grow our customer relationships.”
Adam Dexter, president and CEO of Dexter added: “I am very excited about bringing Redneck into the Dexter family with their great people, customers, and distribution resources. Redneck has long supported the Dexter brand, and this acquisition provides an additional platform to offer our products to their customers. Bringing these two companies together will allow us to concentrate on operational excellence by partnering with our current and new employees, suppliers and customers. Our companies’ core foundations of providing outstanding customer service align exceptionally well. I am certain that ‘Together is Better’ with Redneck joining Dexter.”
Ernie Giddens, chairman and CEO of Redneck stated: “My family and I are pleased to announce the sale of our combined equity interests in Redneck Inc. and Redline Products to Dexter Axle Company. First and foremost, we want to thank all the loyal customers and employees that have supported our endeavor, some of which have been there with us nearly 40 years. We will always cherish the friendships and relationships we have forged with all of you and your children as they have grown up and become active in your businesses today. We will miss you all and wish you the very best in the years to come.”