Titan International sells non-tire and wheel interests
Dexter Axle now claims to have the most extensive running gear and brake and actuation product line on the market after its purchase of Titan International’s non-tire and wheel assets last month.
Both companies have long histories in the market, with Titan boasting a rich heritage in hydraulic brake and actuator manufacturing and Dexter having fifty years of experience manufacturing trailer axles, brakes, and hubs and drums.
Titan’s brake and actuator business was part of the company’s Tennesse-based consumer business unit it purchased from Goodyear in 2011.
Dexter Axle president and chief executive Adam Dexter said it was an exciting change for the business, with Titan’s North American brake and actuator lines added to Dexter’s existing products.
“Titan has a history of quality and innovation that will fit nicely within our existing culture,” he said.
Randy McMann will join Dexter as sales manager for Titan brakes.
Dexter products are manufactured in Indiana, Georgia, Oklahoma, California and Tennessee, with distribution throughout North America and several other countries. Titan International manufactured brakes and actuators in Union City, Tennessee, supported by an office in Des Moines, Iowa.
Sale good news for Dexter Axle customers
Dexter Axle marketing director Jim Berry said the purchase meant the company could offer a huge range of products across the marine, agricultural and industrial markets making things easier for retailers.
“This will provide them the convenience of consolidated purchase orders and sales representation, helping to make their business more efficient,” he said.
Titan International president Paul Reitz said the company decided to sell its assets to Dexter Axle because they were not aligned with Titan’s core business, but the sale offered Dexter Axle customers and employees more opportunities.
“Dexter has been a leader in this industry for over fifty years and we wish them the best in the integration of the Titan product portfolio into their current offering,” he said.
Titan International, Inc. — a holding company — owns subsidiaries that supply wheels, tires, assemblies and undercarriage products for off-highway equipment used in agricultural, earthmoving, construction and consumer applications.
Dexter Axle is majority owned by a fund managed by The Sterling Group, a private equity firm based in Houston, Texas, with more than $1 billion of assets under management.