Dexter Axle Co. has agreed to acquire IMT’s light-, medium-, and heavy-duty axles business, the IMT group announced.
The IMT divisions to be acquired by Dexter consist of the Ingersoll Axles division of IMT Partnership in Ingersoll, Ontario, Canada, and Indianapolis, Indiana, and the light-duty Axles division of IMT Standen’s Limited Partnership in Calgary, Alberta, Canada.
Dexter is a manufacturer of trailer axles and trailer brakes with facilities in the U.S., and the acquisition will extend Dexter’s reach into Canada.
“Ingersoll Axles and Standen’s are leaders in the axle business in Canada,” said Jim Hacking, CEO of the IMT Group. “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 occur within weeks, according to IMT. The change will not interrupt business 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.