Product portfolio of Nordelettronica strengthens AL-KO Vehicle Technology Group ("AL-KO") electronic component offerings.
NOVI, Mich., Dec. 1, 2020 /PRNewswire/ -- DexKo Global Inc. ("DexKo"), a global leader in highly engineered trailer running gear, chassis assemblies, and related components, is pleased to announce that its subsidiary AL-KO has acquired the electronics specialist Nordelettronica S.r.l., headquartered in Gaiarine, Italy. The strategic acquisition expands AL-KO's product portfolio in the area of electronic components for recreational vehicles and provides access to new growth segments.
Founded in 1978, Nordelettronica operates two product development and production sites in Italy and Romania. Nordelettronica's focus is in supplying electronic equipment for the RV sector and applications for industrial electronics, such as the industrial cleaning sector. The company's product portfolio includes battery chargers, low-voltage distribution modules, wire harnesses and control panels.
With the acquisition of Nordelettronica, AL-KO is expanding its expertise in electronic components, enhancing the offerings of CBE S.r.l., one of the leading manufacturers of electronic solutions for leisure and commercial vehicles.
Fred Bentley, CEO of DexKo Global, said: "We are very pleased that Nordelettronica is now part of the DexKo family. The company is characterized by its flexibility and providing electronics solutions targeted to its customers' needs. Nordelettronica is an ideal fit with DexKo and will further improve our product range and service to customers."
Harald Hiller, President & CEO of AL-KO, said: "The acquisition of Nordelettronica enhances our product portfolio in the RV electronics sector. Together with CBE, we will build on many years of know-how and expertise to provide our combined customer base with reliable, high-performance products."
Luciano Rizzioli, founder of Nordelettronica, said: "It was important for the Nordelettronica shareholders to find strong partners in DexKo and AL-KO to support the continued growth of the business. I would like to thank the management team for the energy and passion they have invested in building the Nordelettronica brand, and I am confident that our customers will benefit from the combination with DexKo."
The transaction closed on November 30, 2020. Financial details of the transaction were not disclosed. Sell-side advisors were Pietro Calzavara of the law firm BM&A (Treviso) as well as AP Advisors (London). AL-KO was advised by Chiomenti (Milan).
AL-KO Vehicle Technology Group
Ichenhauser Straße 14
89359 Kötz, Germany
+49 8221 97-8239
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.
AL-KO Vehicle Technology Group GmbH
The AL-KO Vehicle Technology Group is a globally operating technology company. With high-quality chassis components for trailers, leisure vehicles and commercial vehicles, the corporate group stands for best functionality, highest comfort and innovations for more driving safety. The AL KO Vehicle Technology Group includes the 14 international brands AL-KO, Aguti, Bankside Patterson, Bradley, CBE, cmtrailer parts, E&P Hydraulics, G&S Chassis, Hume, Nordelettronica, Preston Chassis, SAFIM, SAWIKO and Winterhoff. Founded in 1931, the group currently generates sales of round about 550 million euros with around 2,750 employees and over 30 locations worldwide. The AL KO Vehicle Technology Group is a wholly owned subsidiary of DexKo Global, a portfolio company of KPS Capital Partners.
Established in 1978, Nordelettronica is a leading manufacturer of electronic components for recreational vehicle applications (control panels, battery chargers, lighting, harnesses) and wound components for industrial applications (switching transformers, input power transformers). Throughout the years Nordelettronica has built its reputation for providing highly customized products with leading-edge technological content.
KPS Capital Partners, LP
KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $11.5 billion of assets under management (as of June 30, 2020). For over two 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 have aggregate annual revenues of approximately $10.6 billion, operate 168 manufacturing facilities in 27 countries, and have nearly 32,000 employees, directly and through joint ventures worldwide (as of June 30, 2020, pro forma for recent acquisitions). The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com./
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SOURCE DexKo Global Inc.