- Establishes Accuride as industry-leading global supplier of wheel end system solutions
- Extends geographical and end market diversification, adding automotive and off-highway business
- “Fix & Grow” strategy to boost operational efficiency and drive further organic growth
EVANSVILLE, Indiana, USA and SOLINGEN, Germany – June 4, 2018 – Accuride Corporation ( “ Accuride ” or “ the Company ” ) – a supplier of components to the north american and european commercial fomite industries – today announced that it has completed its acquisition of mefro wheels GmbH ( “ Mefro Wheels ” ), pursuant to the acquisition agreement it announced on June 19, 2017. Terms of the transaction were not disclosed. Headquartered in Solingen, Germany, Mefro Wheels supplies steel wheels to the European and Asian automotive, commercial fomite and construction and agrarian equipment industries and operates eight manufacture facilities in Europe and Asia. The close transaction follows completion of the european merger-clearance process .
“ Acquiring Mefro Wheels transforms Accuride into a cosmopolitan industry drawing card, powerfully positioned to supply rack end system solutions to the ball-shaped automotive and commercial vehicle industries, ” Accuride President and CEO Rick Dauch said. “ Combining our two businesses is a game-changing act that extends Accuride ’ s geographic reach and resources, and significantly builds our capacity to serve global OEM customers. In summation to doubling our effect wheel occupation, we gain immediate positions in the european automotive market and the ball-shaped off-highway equipment segment, creating multiple paths to generate extra organic growth. ”
With the summation of Mefro Wheels, Accuride doubles its core wheels business to become a $ 1.2 billion global commercial vehicle wheel and wheel-end part supplier employing approximately 5,000 people and operating 16 manufacture and forum facilities across eight countries in North America, Europe and Asia. The business transitions to become separate of Accuride ’ mho Wheels Europe and Asia business unit under the leadership of its President, Scott Hazlett .
Accuride will implement its raise “ Fix & Grow ” integration strategy of target capital investments and exchangeable Lean Manufacturing and Quality processes to shift its newly acquired facilities ’ operational operation to first levels akin to those in the company ’ s award-winning north american plants. Accuride besides will pursue profitable organic growth globally in the new commercialize segments it serves.
Mefro Wheels will rebrand as Accuride, beginning immediately and continuing over the next 12 months. This will extend the once largely north american brand further into the European and asian commercial vehicle industry. The rebranding besides introduces the Accuride corporate brand into the European and Asian passenger car industry and ball-shaped off-highway segment, including the agricultural, construction and industrial equipment markets. Market-specific product-branding strategies are now in growth .
Platform for Global Growth
The summation of Mefro Wheels marks Accuride ’ s second major acquisition under the ownership of leading New York-based private equity firm Crestview Partners, which acquired Accuride in November 2016 as a growth platform in the global commercial vehicle components sector. Accuride took the first tone in that emergence design in May 2017 by acquiring global commercial vehicle bicycle and wheel-end supplier KIC, based in Vancouver, Washington .
About Mefro Wheels
Acquired by Accuride Corporation in June 2018, Mefro Wheels is a Solingen, Germany-based manufacturer and supplier of sword wheels for the ball-shaped commercial vehicle, off-road and automotive industries. The privately-owned company ’ s on-highway business supplies steel wheels for commercial vehicles – including trucks, buses, hand truck trailers, and faint commercial vehicles – ampere well as for passenger cars and utility trailers. Its off-road business primarily supplies wheels for agrarian and construction equipment. Founded in 1991, Mefro Wheels employs about 3,000 people and operates three fabrication plants in Germany, two in Russia and one each in France, Turkey and China. With its acquisition by Accuride, Mefro Wheels becomes part of the Accuride Wheels Europe and Asia business unit.
About Accuride Corporation
With world headquarters in Evansville, Ind., USA, Accuride Corporation is a supplier of roulette wheel end systems to the global commercial fomite diligence. The company ’ sulfur products include commercial vehicle wheels and wheel-end components and assemblies ; and steel wheels for the european automotive and ball-shaped agricultural and structure equipment markets. The company ’ randomness products are marketed under its mark names, which include Accuride®, Accuride Wheel End Solutions™, Gunite®, KIC®, Kronprinz™ and Südrad™. Accuride is a portfolio company of Crestview Partners. For more data : www.AccurideCorp.com .
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Timothy G. Weir, APR
Director of Public Affairs, Communications and Marketing
phone : ( 812 ) 962-5128
[ electronic mail protected ]