Crystal Group sold, founder and chairman will retire

HIAWATHA -- Crystal Group Inc., a designer and manufacturer of commercial-off-the-shelf (COTS) custom-designed computers, displays, networking devices, embedded systems, and storage devices, has been sold to a Fairfield, Iowa, company.

Dexter Apache Holdings Inc., founded in 1894 as The Dexter Co. in Dexter, Iowa, is based in Fairfield and owns five other businesses. Financial terms of the sale were not disclosed.

Patrick Albregts, president and chief executive officer of Dexter Apache Holdings, said the acquisition of Crystal Group further diversifies Dexter Apache Holdings portfolio of companies and leverages it's competencies as a manufacturer of high quality, highly engineered products.

"We are extremely pleased to have Crystal Group, Inc. join our family of companies," Albregts said in a statement announcing the deal. "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."

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

Craig Jensen, founder, chairman and CEO of Crystal Group, will retire.

"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," Jensen said in the same statement.

Dexter Apache Holdings is owned 100 percent by its employees through an employee stock ownership plan.

Crystal Group products are used in a wide range of government, military, and commercial applications.