DexKo Global Inc., a global provider of highly engineered trailer running gear and chassis assemblies and related components, announced that Dexter has reached an agreement to purchase the heavy-duty axle and suspension manufacturing assets of Ingersoll Axles, along with the light duty-axle manufacturing assets of Standen’s from the IMT Group. Ingersoll Axles has been a leading supplier of specialized heavy-duty trailer axles and suspensions across North America for more than 55 years. Dexter intends to acquire the manufacturing locations in Ingersoll, Ontario; Calgary, Alberta; and Indianapolis.

Once complete, Ingersoll Axles and Standen’s Light Duty Axles will operate as one combined business within the Dexter group. The companies expect the transaction to close by the end of 2016.

DexKo Global and Dexter are majority owned by a fund managed by The Sterling Group, an operationally focused middle market private equity firm based in Houston, with $2.2 billion of assets under management.