DexKo Global Inc., the Novi-based provider of engineered trailer operating gear, chassis assemblies, associated elements, and hydraulic brake functions, has agreed to purchase Italy’s Fluid-Press Group. Terms of the transaction weren’t disclosed.
Located in Albinea, Reggio Emilia (northern Italy), Fluid-Press was based in 1971. It develops and manufactures hydraulic valves and manifold blocks for agricultural equipment, industrial gear, cranes, aerial platforms, and earth-moving machines.
“The family business, which has been successfully managed for decades, produces high-quality products and components,” says Fred Bentley, CEO of DexKo, of Fluid-Press. “This acquisition enables DexKo to continue to grow in hydraulics and further expand our product offering in this segment. We are pleased to welcome the Fluid-Press team to DexKo and to help them build upon the company’s strong foundation.”
Fluid-Press will likely be added to DexKo’s hydraulics enterprise and will likely be working intently with Safim Brakes in Modena, Italy, which has been a part of DexKo and AL-KO Vehicle Technology since 2019. Safim is a producer of hydraulic braking system elements used in a spread of off-highway gear functions.
“We are dealing with complementary customer portfolios (OEM and distribution), which will allow us to grow further in the respective customer segments with both Safim and Fluid-Press products that we can now sell through the distribution channels of both companies and into untapped markets,” says Harald Hiller, president and CEO at AL-KO. “We look forward to uniting the strengths of the Fluid-Press team with those of DexKo to grow the Hydraulics business further.”
Aldo Tagliavento, chairman of Fluid-Press, who will proceed to serve the enterprise as a director, says: “We are proud to be part of DexKo, a global industrial group which will strengthen Fluid-Press’ worldwide presence. I am confident we will achieve great results together with Safim.”
DexKo Global in Novi Agrees to Acquire Italy’s Fluid-Press Group & More Latest News Update
DexKo Global in Novi Agrees to Acquire Italy’s Fluid-Press Group & More Live News
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DexKo Global in Novi Agrees to Acquire Italy’s Fluid-Press Group & More News Today
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