EVANSVILLE, INDIANA, June 19, 2017 — XMS helps Accuride Corporation (“Accuride” or “the Company”) expand its position as wheel end solutions supplier to the global commercial vehicle industry as Accuride continues global growth initiatives under ownership of Crestview Partners.
Accuride Corporation (“Accuride” or “the Company”) – a components supplier to the North American and European commercial vehicle industries – announced that it has entered into an agreement to acquire mefro wheels GmbH (“Mefro Wheels”). Headquartered in Solingen, Germany, Mefro Wheels is a privately-owned supplier of steel wheels to the European and Asian passenger car, light vehicle and commercial vehicle industries with manufacturing operations in Germany, France, Turkey, Russia and China. The transaction is subject to applicable anti-trust approvals.
“The strategic acquisition of Mefro Wheels will solidify Accuride’s position for future growth as a supplier of wheel end solutions to the global commercial vehicle industry, enabling us to better serve the needs of our global customers,” Accuride President and CEO Rick Dauch said. “The addition of Mefro Wheels will extend Accuride’s geographic reach, expand our truck and trailer wheel offering in Europe, Russia and Asia and further diversify the end-markets we serve with passenger car and off-road construction and agriculture businesses. Combining our complementary product offerings, operations and customer relationships will enable us to serve as a dependable source of high-quality wheels and wheel-end components for our global customers across a broad range of on-road and off-road applications.”
The acquisition of Mefro Wheels will create a global commercial vehicle wheel and wheel-end component supplier employing approximately 5,000 people at 15 manufacturing facilities in North America, Europe, Russia and the Asia-Pacific region.
XMS Capital Partners acted as financial advisor to Accuride Corporation.
About Mefro Wheels
Headquartered in Solingen, Germany, mefro wheels GmbH is a manufacturer and supplier of steel wheels to the global commercial vehicle, off-road and automotive industries. Mefro Wheels’ on-highway business supplies steel wheels for commercial vehicles – including trucks, buses, truck trailers, and light commercial vehicles – as well as for passenger cars and utility trailers. Its off-road business primarily supplies wheels for agricultural and construction equipment. Founded in 1991, Mefro Wheels employs more than 3,000 people and operates three manufacturing plants in Germany, two in Russia and one each in France, Turkey and China. www.mefro-wheels.com.
Headquartered in Evansville, IN, USA, Accuride Corporation is a supplier of components to the North American and European commercial vehicle industries. Accuride’s products include commercial vehicle wheels and wheel-end components and assemblies, marketed under its brand names which include Accuride®, Accuride Wheel End Solutions™, Gunite®, KIC® and Gianetti Ruote™. Accuride is a portfolio company of Crestview Partners. www.AccurideCorp.com.
About XMS Capital Partners
XMS Capital Partners, established in 2006, is a global, independent financial services firm providing M&A, corporate advisory and asset management services to clients. It has offices in Chicago, London and Dublin.
XMS provides Involvement BankingTM which goes beyond transaction oriented investment banking and focuses on delivering objective, value added advice and custom-tailored solutions to help clients achieve their strategic goals. It consistently creates value for its clients by giving them access to comprehensive, independent M&A, strategic advisory, financial restructuring, capital structure advisory and private capital advisory expertise.
All XMS engagements are led by senior investment bankers who average over 25 years of industry experience. Importantly, the combination of their extensive experience, technical expertise and “client first” orientation has served as a solid foundation of the firm since its formation in 2006. XMS Capital Partners, LLC is a FINRA member and SIPC member. www.xmscapital.com.
Deal Team Contacts:
Hank Hakewill, Hakewill & Associates
Phone: 847-256-5420 (office); 847-714-6561 (cell)