Dexter Apache Holdings Acquires Leer Partnership
FAIRFIELD, Iowa—January 7, 2008
Dexter Apache Holdings, Inc. an Iowa based company with diverse interests in manufacturing, financial services and distribution has acquired 100% of the interests of Leer Limited Partnership and related entities. Founded in 1952, Leer is the leading worldwide manufacturer of ice merchandisers used for storing bagged ice as well as a leader in the design and manufacturing of commercial walk-in freezers and coolers. Leer markets ice merchandisers under the Leer, Star, Starrett and Biloff brand names and has production facilities in New Lisbon, Wisconsin, Dumas, Arkansas and Shafter, California. Walk-in coolers and freezers are marketed under the Leer and Carroll Cooler brand names and are produced in New Lisbon, Wisconsin and Carroll, Iowa. Leer markets its products to a variety of customers including packaged ice industry distributors, ice manufacturers, grocery and convenience stores and the food service industry.
The acquisition of Leer further diversifies Dexter Apache Holdings portfolio of companies and leverages it’s competencies as a manufacturer of high quality steel and iron related products. Patrick D. Albregts, President and CEO of Dexter Apache Holdings, Inc. commented, ”We are extremely pleased to have Leer join our family of companies. Leer will serve as an important growth engine for Dexter Apache and allow us to leverage a number of important synergies between our companies while adding further diversification to our business. They are also a great complement to the ownership culture we have here at Dexter Apache.”
Leer will remain headquartered in New Lisbon, Wisconsin. Steve Dolezel, the previous owner and former President of Leer will remain involved in the business in a consulting capacity. Albregts will assume day to day management responsibility for Leer interim to naming a long term successor to Dolezel.
Dexter Apache Holdings, Inc. was founded in 1894 as The Dexter Company in Dexter, Iowa, and currently is headquartered in Fairfield, Iowa. In addition to Leer, Dexter Apache Holdings, Inc. owns five other businesses. Dexter Laundry, Inc. is located in Fairfield, Iowa and is a leading manufacturer of commercial laundry equipment for self service laundromats, hotels, motels, hospitals, universities and care giving facilities. Dexter Foundry, Inc. also located in Fairfield, is the second largest gray and ductile cast iron foundry in Iowa. Apache Stainless Equipment Corporation is located in Beaver Dam, Wisconsin and provides stainless steel tanks and vessels to a variety of industries. Dexter Financial Services, Inc. is located in Cedar Rapids, Iowa and is a full service provider of financial products for Dexter Laundry customers. Century Laundry Distributing, Inc. also located in Cedar Rapids, distributes commercial laundry equipment primarily in Iowa and Nebraska.
Dexter Apache Holdings, Inc. is owned 100% by its employees through an ESOP. |
