NOVI, Mich. — DexKo Global Inc., a global leader in highly engineered trailer running gear, chassis assemblies, related components and hydraulic brake applications, on Thursday announced the signing of a definitive agreement to acquire Fluid-Press Group.
Fluid-Press, founded in 1971, is located in Albinea, Italy. The company develops and manufactures hydraulic valves and manifold blocks for agricultural machinery, industrial equipment, cranes, aerial platforms and earth-moving machines.
Fluid-Press will be a valuable addition to DexKo's Hydraulics business, working closely with Safim Brakes, a leading manufacturer of highly engineered hydraulic braking system components used in a range of off-highway equipment applications. Safim has been a part of DexKo and AL-KO Vehicle Technology since 2019.
"The family business, which has been successfully managed for decades, produces high-quality products and components," said DexKo CEO Fred Bentley. "This acquisition enables DexKo to continue to grow in hydraulics and further expand our product offering in this segment. We are pleased to welcome the Fluid-Press team to DexKo and to help them build upon the company's strong foundation."
"We are dealing with complementary customer portfolios — OEM and distribution — which will allow us to grow further in the respective customer segments with both Safim and Fluid-Press products that we can now sell through the distribution channels of both companies and into untapped markets", said Harald Hiller, president and CEO of AL-KO. "We look forward to uniting the strengths of the Fluid-Press team with those of DexKo to grow the Hydraulics business further".
"We will work closely together, exploit synergies and thus significantly broaden our customer and geographic reach, and I am looking forward to utilizing our joint business opportunities", said Giovanni Pedrinoni, managing director at Safim.
"We are proud to be part of DexKo, a global industrial group which will strengthen Fluid-Press' worldwide presence. I am confident we will achieve great results together with Safim," said Aldo Tagliavento, chairman of Fluid-Press, who will continue to serve the business as a director.
Financial terms of the transaction were not disclosed. The transaction is subject to customary closing conditions.