Dexter Group Buys Machinery Manufacturer

Jan. 9, 2008
Refrigerator systems diversify holdings
The parent company of Dexter Foundry, Dexter Apache Holdings Inc., reports it has purchased the assets and interests of Leer Limited Partnership, a global manufacturer of machines that store bagged ice and commercial walk-in freezers and coolers. No price has been reported for the purchase. Dexter Apache Holdings, Fairfield, IA, is an ESOP company with five subsidiary operations: Dexter Foundry Inc., also in Fairfield, is a gray and ductile iron foundry; .Dexter Laundry Inc. manufactures commercial laundry equipment for laundromats, hotels, motels, hospitals, universities, and other institutional facilities; Apache Stainless Equipment Corp., Beaver Dam, WI, produces stainless steel tanks and vessels; Dexter Financial Services, Cedar Rapids, IA, is a financial-services service to Dexter Laundry customers; and Century Laundry Distributing, Cedar Rapids, distributes commercial laundry equipment, primarily in Iowa and Nebraska. Leer Limited Partnership produces ice “merchandisers” under the Leer, Star, Starrett, and Biloff brands, and has production plants in New Lisbon, WI, Dumas, AR, and Shafter, CA; Leer and Carroll Cooler walk-in coolers and freezers are produced in New Lisbon, WI, and Carroll, IA. Leer’s customers are packaged ice industry distributors, ice manufacturers, grocery and convenience stores, and the food-service industry Patrick D. Albregts, president and CEO of Dexter Apache Holdings, said, ”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.” Leer will remain headquartered in New Lisbon and Steve Dolezel, the previous owner and former president of Leer will remain as a consultant. Albregts will have management responsibility for Leer until a permanent executive is named.