Dexter Axle Company agrees to acquire IMT’s axle business
CAMBRIDGE, ONTARIO (Dec 21, 2016) – The IMT Group (“IMT”) is pleased to announce that Dexter Axle Company (“Dexter”) has agreed to acquire IMT’s light, medium and heavy-duty axle business. The IMT divisions to be acquired by Dexter consist of the Ingersoll Axles division of IMT Partnership in Ingersoll, Ontario and Indianapolis, Indiana, and the light-duty Axles division of IMT Standen’s Limited Partnership in Calgary, Alberta.
“This is a very positive development for IMT’s axle businesses,” said Jim Hacking, Chief Executive Officer of the IMT Group. “Ingersoll Axles and Standen’s are leaders in the axle business in Canada. Dexter is a global leader in highly engineered trailer products and chassis assemblies. This transaction will represent another significant expansion for Dexter and will give our IMT axle products increased market exposure.”
The transition of IMT’s axle business to Dexter is expected to be implemented within the coming weeks. Business will continue as usual during the completion of the transaction, with no disruption to customers, suppliers or employees. Once the transaction is completed, Ingersoll Axles and the light-duty axles division of Standen’s will operate as fully integrated divisions within the Dexter group of companies.
Dexter is a leading manufacturer of trailer axles and trailer brakes with multiple facilities across the United States. The acquisition of IMT’s axle business will expand Dexter’s reach into Canada.
The IMT Group operates several businesses, including IMT’s Defence, Machining, Forging and Heat Treating businesses and the other core elements of the Standen’s business. These business lines will not be affected by Dexter’s acquisition of the axle business.
Please send inquiries to:
Cheryl Hacking, VP Marketing – The IMT Group