DexKo Global Inc., a Novi-based supplier of heavy-duty commercial truck components, has acquired Progress Manufacturing. Inc. in Provo, Utah, for an undisclosed sum through its Dexter Axle Co. subsidiary.
Progress Manufacturing, in business for more than 75 years, produces custom-engineered towing and trailering products such as integrated sway control and weight distribution hitches. It also produces ball mounts, wheel chocks, and other trailer accessories. Progress brands Equal-i-zer Hitch and Fastway Trailer Products are sold through an extensive dealer network in North America.
“The products and people at Progress make a great addition to the Dexter portfolio, rounding out an already diverse offering,” says 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.”
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. Since its founding in 1960, Dexter has been serving the utility trailer, recreational vehicle, marine, heavy-duty, agricultural, and specialty equipment manufacturers and distribution partners.
“This truly is a great fit for Dexter and Progress,” says Adam Dexter, president and CEO of Dexter. “Both companies have a long-standing focus on high-quality products and outstanding customer service with a strong brand recognition in the towing industry.”
Jed Anderson, CEO of Progress, says, “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. 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.”