NOVI, Mich. and KÖTZ, Germany and LANGENARGEN, Germany, Oct. 3, 2019 /PRNewswire/ -- DexKo Global Inc. ("DexKo"), a global leader in highly engineered trailer running gear, chassis assemblies and related components, has signed a definitive agreement to acquire Aguti Produktentwicklung & Design GmbH ("Aguti" or the "Company"), based in Langenargen (Baden-Württemberg, Germany). This strategic acquisition enables AL-KO Vehicle Technology ("AL-KO") to expand its portfolio to include seats and seating system solutions for commercial and leisure vehicles and to continue the group's strong growth trajectory. Financial terms of the transaction were not disclosed. The transaction is subject to customary closing conditions and regulatory approval.
Aguti is a leading provider of seat systems and seat-connections for motorhomes, electric vehicles and specialty vehicles. Since its foundation in 1992, Aguti has been designing seating systems specially tailored to its customers' requirements for style, flexibility, safety and ergonomics. The company is an innovation leader in the construction of patented special solutions, which are developed and tested in its own center of expertise. Customers value Aguti's expertise, excellent customer service and track record of product innovation. The acquisition enables AL-KO to continue to execute its long-term growth strategy and further diversify its business. The experienced management team led by company founder and managing partner Andreas Grieger and managing director Sebastian Janssen will remain with the business, and the Aguti brand will also continue in its existing form as a product brand under the AL-KO umbrella brand.
Fred Bentley, CEO of DexKo, commented: "We are very happy that Aguti will become part of the DexKo family. Aguti distinguishes itself through high-quality and innovative products and enjoys an excellent reputation with business partners and customers. It's a perfect match with DexKo. We will continue to pursue such value-adding partnerships that improve our product offering and service level in the future."
Harald Hiller, President and CEO of AL-KO, added: "By integrating Aguti, we are expanding our core business. Thanks to its center of expertise, the company is a leader in the field of flexible and customer-specific solutions. We value Aguti's significant technical know-how and creative expertise. It is of vital importance to me that the entire Aguti management team is retained in its existing form."
Andreas Grieger commented : "Finding a strong and reliable partner in AL-KO was very important to us, as this will enable us to execute our long-term strategy. It opens up access to additional markets outside of our core business and in new geographies."
DexKo is a portfolio company of KPS Capital Partners, LP ("KPS"). KPS manages the KPS Special Situations Funds, a group of investment funds with approx. $5.1 billion in assets (as of June 30, 2019).
DexKo Global Inc.
DexKo Global Inc. is the world's leading supplier of advanced chassis technology, chassis assemblies and related components with more than 130 years of experience in trailer and caravan components. DexKo Global was founded at the end of 2015 through the combination of Dexter and AL-KO Vehicle Technology. With its headquarters in Novi, Michigan, the company employs more than 5,000 associates with 44 production facilities and 23 distribution centers. DexKo Global Inc. has a turnover of more than US$ 1.5 billion.
ALOIS KOBER GMBH
Founded in 1931, AL-KO Vehicle Technology is now a global technology company with sites in Europe, South America, Asia and Australia. With high-quality chassis components for trailers, leisure vehicles and light commercial vehicles, AL-KO represents the best in ergonomics and functionality, maximum comfort as well as innovations to ensure greater driving safety. The company specialises in sophisticated innovation processes and has received several awards in this regard.
AGUTI Produktentwicklung & Design GmbH
AGUTI has been developing and selling seating systems for the leisure and commercial vehicle industries and special seating ranges for customers all over the world since the early 1990s. The company, based in Langenargen, Germany, has a qualified team of seating experts who are constantly developing innovations for the product portfolio. Specific solutions, which have to fulfil Aguti's own standards as well as customer norms on the in-house test benches, have always been the basis of the company's success.
About KPS Capital Partners
KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $21.4 billion of assets under management (as of December 31, 2023). For over three decades, the Partners of KPS have worked exclusively to realize significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries, including basic materials, branded consumer, healthcare and luxury products, automotive parts, capital equipment and general manufacturing. KPS creates value for its investors by working constructively with talented management teams to make businesses better, and generates investment returns by structurally improving the strategic position, competitiveness and profitability of its portfolio companies, rather than primarily relying on financial leverage. The KPS Funds’ portfolio companies generate aggregate annual revenues of approximately $20.3 billion, operate 222 manufacturing facilities in 26 countries, and have approximately 48,000 employees, directly and through joint ventures worldwide (as of December 31, 2023). The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.
