NATM Member News Tracks
Bain Capital Acquires Big Tex, Leading Manufacturer of Professional- Grade Trailers
Mt. Pleasant, Texas and Boston, Mass. — Bain Capital Private Equity, one of the world’s foremost private investment firms, today announced it has completed the acquisition of Big Tex, a leading manufacturer of professional-grade trailers in North America from H.I.G. Capital. Financial terms of the private transaction were not disclosed.
Headquartered in Mt. Pleasant, Texas, Big Tex manufactures professional grade open utility, equipment, horse, livestock, and cargo trailers and truck beds under such brands as Big Tex, CM, S&H, and Circle J. Founded in 1982, the Company serves dealers and customers across North America.
“We are very proud of the progress we have made,” said Curt Howell, Chief Executive Officer of Big Tex, who will continue to lead the business with the existing management team. “We thank H.I.G. Capital for their support, and look forward to working with Bain Capital to continue to strengthen our competitive position and enhance our service to customers.”
“We look forward to putting our resources and industrial experience to work with Curt and the management team to build the business and continue the long term success of Big Tex.” said Todd Cook, a Managing Director at Bain Capital.
Kirkland & Ellis LLP served as legal counsel, and Pricewaterhouse Coopers LLP served as accounting advisor to Bain Capital Private Equity. Piper Jaffray acted as Big Tex’s exclusive financial advisor. McDermott Will & Emery LLP provided legal advice to Big Tex and H.I.G. Capital.
About Big Tex
Headquartered in Mt. Pleasant, TX, Big Tex is the leading national manufacturer of professional-grade trailers, parts and supplies. Big Tex sells its family of leading trailer brands, including Big Tex Trailers, CM/S&H Trailers, Circle J and CM Truck Beds, through a diversified network of over 600 dealers nationwide. The Company maintains manufacturing and assembly facilities in Texas, Oklahoma, Georgia and Idaho. The Company’s Tex Trail division is a leading
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parts distributor with 12 locations. For more information, please refer to the Big Tex website at
www.bigtextrailers.com.
About Bain Capital Private Equity
Bain Capital (
www.baincapital.com) is one of the world’s foremost private investment firms, with approximately $75 billion under management across several asset classes including private equity, venture capital, public equity and credit products. Founded in 1984, Bain Capital’s more than 400 professionals are collectively the single largest investor in all of its funds and are dedicated to investing in and building its portfolio companies. Bain Capital Private Equity has deep experience in industrial manufacturing and distribution, with investments in companies including TI Automotive, Sensata Technologies, FTE Automotive, Trinseo SA, ASIMCO and Hero MotoCorp Ltd. Bain Capital has offices in Boston, New York, Chicago, San Francisco, Palo Alto, London, Munich, Dublin, Luxembourg, Tokyo, Shanghai, Hong Kong, Mumbai and Melbourne.
Dexter and AL-KO VT Strategic Combination Transaction Completed
Elkhart, Ind. — In October 2015, Dexter announced the intent to acquire AL- KO Vehicle Technology (“VT”) from AL-KO Kober SE. We are pleased to announce that as of Dec. 31, 2015, we successfully closed this transaction. As a result of combining Dexter and AL-KO VT, DexKo Global Inc. has been formed as the parent company. DexKo Global Inc. is majority owned by funds managed by The Sterling Group, Dexter’s current majority owners. The combined company will include AL-KO Kober SE as a significant shareholder.
Fred Bentley, a Dexter board member and former CEO of Maxion Wheels, has been named President and CEO of DexKo Global Inc. Adam Dexter will continue in his current responsibilities as President and CEO of US-based Dexter. Harald Hiller will continue his role of President of AL-KO VT. Kevin Garland, a partner at The Sterling Group, will continue as Chairman of the Board. Stefan Kober, CEO of AL-KO Kober SE, assumes the role of Vice Chairman of the Board.
Dexter is a leading manufacturer of trailer axles, brakes and related components
in North America serving the utility trailer, recreational vehicle, heavy duty, manufactured housing, agricultural, marine, and specialty trailer markets. Dexter is headquartered in Elkhart, Indiana and has nine manufacturing facilities in the U.S.
Headquartered in Kötz, Germany, AL- KO VT is the leading European designer and manufacturer of trailer axles, trailer and caravan components, chassis and motorized chassis. The company operates from 20+ locations around the world, including Europe, Australia, South Africa, China and South America.
“I am excited by the opportunity to lead and bring together two world class organizations,” stated Fred Bentley, President and CEO of DexKo Global Inc. “We will focus on continuing to lead with great technology and customer service and to expand our market leadership positions. It is truly an exciting time for this new organization and we will use our collective strengths for the benefit of all of our customers, employees, suppliers and stakeholders.”
“Dexter prides itself on providing unparalleled quality, innovation and the highest levels of customer service,” said Adam Dexter, President and CEO of Dexter. “The addition of AL-KO VT and formation of DexKo Global Inc. will enhance Dexter’s resources and ability to introduce new technologies and products to better serve our loyal customer base.”
The combination of Dexter and AL- KO VT will result in a global leader in trailer axle and chassis supply with sales approaching nearly $1 billion. The Dexter and AL-KO VT brands will continue as market leaders in their respective geographies. The two companies will be able to leverage shared resources and technology, as well as the advantages of a global footprint and significantly expanded scale.
Dexter has been a leading manufacturer of trailer axles and trailer brakes for over 50 years for the utility trailer, recreational vehicle, heavy duty, manufactured housing, agricultural, marine, and specialty trailer markets. Dexter products are American made in highly automated facilities in Indiana, Georgia, Oklahoma, California, and Tennessee. Since 1960, OEMs have installed more than 50 million Dexter Axles with the assurance that they are providing a quality product
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