Dexter Axle Co., a subsidiary of Novi-based trailer chassis assembly and component manufacturer DexKo Global, has acquired Silent Drive, a trailer suspension supplier headquartered in Iowa. Terms of the transaction were not disclosed.
Dexter, founded in 1960 and headquartered in Elkhart, Indiana, employs more than 2,400 people in the U.S. and Canada and operates 16 manufacturing facilities. It serves the utility trailer, recreational vehicle, marine, heavy duty, agricultural, and specialty markets.
Silent Drive has served the specialty heavy-duty suspension market in the U.S. and Canada since 1953, offering air suspensions for liftable tags and pushers, drive axle suspensions, as well as primary and auxiliary lift axles on trailers.
“The addition of Silent Drive to Dexter’s already-diverse product portfolio will further expand our specialty heavy duty and suspension capabilities, allowing continuous growth for both brands,” says Adam Dexter, president and CEO of Dexter. “Our companies’ core foundations of innovation and delivering a quality product align exceptionally well.”
Fred Bentley, CEO of DexKo Global, says, “Silent Drive has built a solid company, growing through product innovation and customer service. We appreciate their focus on industry-leading products and look forward to the continued growth this new partnership provides.
“After completing five acquisitions in 2019, this is our first acquisition in 2020,” Bentley continues. “We continue to broaden our industry-leading product offering, expand our geographic reach and diversify our customer base. The acquisition of Silent Drive allows us to do this.”