The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.
Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .
Thu Jan 5, 2017
ELKHART, Indiana - DexKo Global Inc. has announced that Dexter has acquired the heavy duty axle and suspension manufacturing assets of Ingersoll Axles, along with the light duty axle manufacturing assets of Standen’s from the IMT Group.
Ingersoll Axles has been a leading supplier of specialized heavy duty trailer axles and suspensions across North America for more than 55 years. Dexter has acquired manufacturing locations in Ingersoll, Ontario; Calgary, Alberta; and Indianapolis, Indiana.
“We are excited to continue to expand our DexKo business," DexKo Global CEO Fred Bentley says. "With Ingersoll Axles, we get a great team, a stronger position in Canada, introduction to new markets with highly engineered products and new suspension technologies that will provide a foundation to increase our market leading performance. We have completed four acquisitions in four countries in the last quarter where all fit perfectly in our customer and product portfolios. The Dexter and AL-KO teams continue to perform well and this performance provides the opportunity for us to continue to grow the business while improving our balance sheet. This is an exciting time to be part of the DexKo team and we continue to build on our 'Together is Better' culture.”
“This acquisition will broaden our ability to service the Specialty Heavy Duty Trailer Market,” Dexter President and CEO Adam Dexter says. "The additional manufacturing capacity in Canada will bring us closer to our customers and will help us to improve our overall service. The immediate focus is to concentrate on enriching employee welfare by providing a safe, productive workplace while adopting Dexter’s philosophy of world class customer service producing quality, dependable products. We look forward to continuing to be a valuable supplier to Ingersoll Axles customers as well as the growth opportunities our combined companies present."
“We have bought running gear components from Dexter for several decades; so we understand and appreciate their quality reputation," IMT Group President Dean Davenport says. "The opportunity to utilize the Dexter distribution network to expand our business was very enticing in this deal. This will allow us to grow our business with the backing of the industry leader. I am confident that this will be a smooth transition for both our customers and employees.”
DexKo Global and Dexter are majority owned by a fund managed by The Sterling Group, an operationally-focused middle market private equity firm based in Houston, Texas with $2.2 billion of assets under management.