Just as a freshwater spring’s contents pour down a mountainside, providing water to the ecosystem, DexKo Global is expanding its resources to provide more products to its ecosystem.
DexKo’s newest spring has sprouted through its acquisition of Edmonton, Alberta-based City Spring Ltd. The company includes three businesses: City Spring and Axle Ltd., Pacific Spring and Axle Ltd. and Spring Service Ltd.
DexKo’s wholly owned subsidiary, Dexter Axle Co., acquired the businesses.
Dexter CEO Adam Dexter said City Spring Ltd.’s business diversity was a key factor in deciding to acquire the firm.
“Dexter identified a need to grow its business in Canada to support the trailer and truck industries,” the CEO said.” The addition of the City Spring team, locations and customers will help build out the network in Canada.”
City Spring was founded in 1956 by Pep and Jim Bassani. The company has four locations in Western Canada. The locations supply truck and trailer parts, axles and springs and provide truck and trailer service.
City Spring shareholder Shirley Kosick said, “My father, Jim Bassani, started City Spring and Axle Ltd. in 1956 with a vision to offer high-quality spring and suspension parts and service. Jim made a strong mark on the industry as a fair-minded and compassionate employer with high standards for workmanship and customer service. We feel Dexter is an excellent partner to take over my father’s business legacy.”
Dexter employs more than 3,800 workers in the U.S. and Canada. The company operates over 20 facilities and 50 company-owned specialty distribution locations.
