Accuride buying Germany's Mefro Wheels

EVANSVILLE, Ind. — Accuride Corp. is buying Mefro Wheels G.m.b.H., a privately owned supplier of steel wheels to the European and Asian passenger car, light vehicle and commercial vehicle industries.

“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.

Financial terms of the pending deal were not disclosed; the transaction is subject to applicable antitrust approvals.

Solingen, Germany-based Mefro Wheels operates three plants in Germany, two in Russia and one each in France, Turkey and China. Employment stands at 3,000-plus.

“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,” Mr. Dauch said.

“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 pending addition of Mefro Wheels marks Accuride's second major acquisition under the ownership of Crestview Partners, a leading New York-based private equity firm, which acquired Accuride in November 2016 as a platform for strategic growth in the global commercial vehicle components industry.