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DexKo Global
DexKo Global, formed by Fred Bentley, is a >$1.5B revenue chassis components supplier created from the merger of Dexter Axle and AL-KO Vehicle Technology.
DexKo Global
DexKo Global formed in 2015 when Dexter Axle, the dominant North American trailer axle manufacturer, combined with AL-KO Vehicle Technology, the German chassis specialist serving European caravan and commercial vehicle markets. The merger created a single platform with deep manufacturing footprints in Michigan, Indiana, and across Europe. Fred Bentley, who led Dexter through its growth under private equity ownership, became CEO of the combined entity. The firm operates as an industrial consolidator, manufacturing running gear, chassis assemblies, brakes, and suspension components for the RV, marine, utility trailer, and heavy-duty transport industries. Its installed base spans original equipment manufacturers like Thor Industries and Forest River, alongside a network of aftermarket distributors. In 2019, MiddleGround Capital acquired a controlling stake from previous sponsor The Sterling Group, installing John Stewart as operating partner to drive further M&A and operational efficiency. Since that transition, DexKo has pursued multiple bolt-on acquisitions to expand its product catalog and European distribution. Revenue for the platform crossed $1.5 billion prior to the MiddleGround transaction, according to public reporting at the time. The company maintains major production campuses in Novi, Michigan; Bristol and Elkhart, Indiana; and several sites in Germany and the UK. This dual-continent setup allows DexKo to serve North American RV production cycles and European caravan and commercial trailer demand simultaneously, insulating the business from single-region cyclicality. DexKo's structural differentiator is its role as a private-equity-driven industrial platform rather than an organic corporate entity. MiddleGround Capital, a firm specializing in middle-market manufacturing carve-outs, uses DexKo as a consolidation vehicle to acquire complementary component makers and integrate them into a unified chassis-systems supplier. This hybrid posture — a standalone operating company that also functions as a buy-and-build platform — gives it the scale of a Tier 1 supplier while maintaining the acquisition agility of a portfolio company. The long-term ambition points toward a deep, multi-species mobility supplier that can serve electrified platforms as RV and trailer OEMs transition powertrains.
General information
Firm type
Asset Manager
Year founded
2015
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Novi
Corporate office
Novi, MI, United States
Additional offices
Bristol, IN · Elkhart, IN · Europe
Principals
Fred Bentley
CEO
John Stewart
Operating Partner
Sector focus
Frequently asked questions
What is the ownership structure of DexKo Global?
DexKo Global is majority-owned by MiddleGround Capital, a Kentucky-based private equity firm focused on middle-market industrial and manufacturing companies. MiddleGround acquired control from The Sterling Group in 2019. The firm operates as a standalone platform with its own management team and board, while MiddleGround provides capital and strategic support for acquisitions and operational improvements.
What markets does DexKo Global serve?
DexKo's products go into the recreational vehicle (RV), marine trailer, utility trailer, and commercial vehicle sectors. Its components are used by major OEMs — including Thor Industries and Forest River — and distributed through aftermarket channels. The company maintains separate production and distribution networks for North America and Europe to serve regional demand cycles.
How does DexKo Global grow — organically or through acquisitions?
DexKo follows a buy-and-build strategy, acquiring smaller component manufacturers and integrating them into its chassis-systems platform. Organic growth comes from OEM relationships and aftermarket parts distribution. However, the primary growth vector since 2015 has been M&A, with multiple bolt-on deals executed under both Sterling Group and MiddleGround Capital ownership to expand product lines and geographic reach.
Who runs investment and M&A decisions at DexKo Global?
M&A strategy is driven jointly by DexKo's management team — led by CEO Fred Bentley — and the investment team at MiddleGround Capital. John Stewart, MiddleGround's Operating Partner, works closely with DexKo's corporate development function to source, evaluate, and integrate acquisitions. The board retains final approval on material transactions.
Is DexKo Global a public company?
No, DexKo Global is a privately held company. It does not trade on any public exchange and does not publicly report detailed financials. Revenue estimates of over $1.5 billion have been reported in the trade press at the time of ownership transitions but the firm has not disclosed current figures.
What is the relationship between Dexter Axle and AL-KO Vehicle Technology?
Dexter Axle and AL-KO Vehicle Technology are the two founding operating subsidiaries that merged to form DexKo Global in 2015. Dexter historically dominated North American trailer axles, while AL-KO held a leading position in European caravan and commercial vehicle chassis. Under DexKo, both brands continue to operate in their respective markets, sharing engineering resources and corporate infrastructure.
Does DexKo Global operate in the commercial vehicle sector or only light trailers?
DexKo serves both light trailer and commercial vehicle markets. While RVs and utility trailers make up a significant portion of its revenue, AL-KO's legacy business includes chassis and suspension components for medium-duty commercial vehicles and transport trailers. This dual exposure allows the platform to capture demand across consumer discretionary and industrial freight end markets.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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