June 19, 2017 12:45 PM, EDT

Accuride in Agreement to Acquire Mefro Wheels

Accuride acquires Mefro Wheels GmbH Accuride Corp.

Accuride Corp., a supplier of components to the North American and European commercial vehicle industries, announced that it entered into an agreement to acquire Mefro Wheels GmbH.

Mefro Wheels is a privately owned supplier of steel wheels to the European and Asian passenger car, light vehicle and commercial vehicle industries. It is based in Solingen, Germany, Accuride 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,” Accuride CEO Rick Dauch said in a statement.

Mefro has manufacturing operations in China, France, Germany, Russia and Turkey. The transaction is subject to applicable antitrust approvals, according to Evansville, Ind.-based Accuride.

Terms were not disclosed.

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.

The first step in that growth plan was Accuride’s May 2017 acquisition of KIC, a global supplier of commercial vehicle wheels and wheel-end components based in Vancouver, Wash., according to Accuride.