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DexKo Global Inc., a global supplier of trailer undercarriages, frame assemblies, related components and high-tech hydraulic brake applications, has signed a definitive agreement to acquire Fluid-Press Group.
Fluid-Press was founded in 1971 and is located in Albinea, Reggio Emilia, Italy. The company develops and manufactures hydraulic valves and manifold blocks for agricultural machinery, industrial equipment, cranes, aerial platforms and earthmoving machinery. Fluid-Press will be a valuable addition to DexKo’s hydraulics business, working closely with Safim Brakes, Modena, Italy. Safim is a leading manufacturer of high-tech hydraulic brake system components used in a range of off-road equipment applications and has been part of DexKo and AL-KO Vehicle Technology (AL-KO) since 2019.
“The family business, successfully run for decades, manufactures high quality products and components. This acquisition allows DexKo to continue its growth in the field of hydraulics and to further expand our product offering in this segment. We are delighted to welcome the Fluid-Press team to DexKo and help them build on the company’s strong foundation,” said Fred Bentley, CEO of DexKo.
“We are dealing with complementary customer portfolios (OEM and distribution), which will allow us to further expand in the respective customer segments with Safim and Fluid-Press products which we can now sell through the distribution channels of both. companies and in untapped markets.” said Harald Hiller, President and CEO of AL-KO. “We look forward to joining the forces of the Fluid-Press team with those of DexKo to further develop the hydraulic activity.”
“We will work closely together, exploiting synergies and thereby significantly expanding our customer base and geographic coverage, and I look forward to exploiting our joint business opportunities,” added Giovanni Pedrinoni, Safim’s CEO.
“We are proud to be part of DexKo, a global industry group that will strengthen Fluid-Press’ global presence. I am convinced that we will achieve excellent results with Safim,” added Aldo Tagliavento, president of Fluid-Press, who will continue to serve the company as a director.
Financial terms of the transaction were not disclosed. The transaction is subject to customary closing conditions. The sellers were advised by PwC M&A, Tax & Legal Services and Transaction Services as well as by Studio Ferrarini in tax matters. Buy-side legal advice was provided by the law firm Chiomenti.