Dexter Apache Holdings acquires Crystal Group Inc.

Dexter Apache Holdings Inc., a Fairfield-based company with diverse interests in manufacturing, financial services and distribution, has acquired 100 percent of the interests of Crystal Group Inc. headquartered in Hiawatha.

Financial terms were not disclosed.

Founded in 1987 by Craig Jensen, Crystal is a leading manufacturer of information technology hardware for high impact, demanding environments including the military.  Among the ?rugged? products offered by Crystal are servers, storage devices, displays and integration hardware. In addition to the military, Crystal serves the telecommunications industry and numerous other industries where highly reliable and durable technology products are required.

The acquisition of Crystal further diversifies Dexter Apache Holdings? portfolio of companies and leverages its competencies as a manufacturer of high quality, highly engineered products.

?We are extremely pleased to have Crystal Group Inc. join our family of companies,? said Patrick D. Albregts, president and CEO of Dexter Apache Holdings. ?Crystal will serve as an important growth engine for Dexter Apache Holdings 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.?

Crystal will remain headquartered in Hiawatha. Scott Kongable, president of Crystal, will continue to lead the business.

Jensen, Crystal chairman and CEO, will retire from the business.

?I am very happy to have partnered with Dexter Apache Holdings as it will allow all Crystal employees to become owners in the business and ensure that Crystal remains a vibrant and successful part of the Hiawatha business community,? said Jensen.

Dexter Apache Holdings was founded in 1894 as The Dexter Company in Dexter and currently is headquartered in Fairfield.

In addition to Crystal, Dexter Apache Holdings owns five other businesses.:

Dexter Laundry Inc. is located in Fairfield and is a leading manufacturer of commercial laundry equipment for self service laundromats, hotels, motels, hospitals, universities and care-giving facilities.

Leer Inc. is headquartered in New Lisbon, Wis., and is a leading manufacturer of ice merchandisers and walk-in freezers and coolers.  Apache Stainless Equipment Corporation is located in Beaver Dam, Wis., and provides stainless steel tanks and food-processing equipment to a variety of industries.  Dexter Financial Services Inc. is located in Cedar Rapids 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, Nebraska, Minnesota, North Dakota and South Dakota.

Dexter Apache Holdings is owned 100 percent by its employees through an Employee Share Option Plan.