Dexter agrees to purchase axle business from IMT Group

Dexter Axle, engineers of trailer running gear, chassis assemblies and related components, has agreed to purchase the heavy duty axle and suspension manufacturing assets of Ingersoll Axles.

Ingersoll Axles, currently owned by IMT Group, is a supplier of specialized heavy duty trailer axles and suspensions across North America of more than 55 years.

Dexter intends to acquire the manufacturing locations in Ingersoll, Ontario; Calgary, Alberta; and Indianapolis, Ind. The companies expect the transaction to close by the end of this year.