Accuride Closes Acquisition of Commercial Vehicle Component Supplier KIC.
M2 EQUITYBITES-May 2, 2017-Accuride Closes Acquisition of Commercial Vehicle Component Supplier KIC
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2 May 2017 - US-based commercial vehicle component supplier Accuride Corp. has closed the acquisition of US-based commercial vehicle wheel end component supplier KIC LLC and certain of its affiliated entities, the company said.
KIC, headquartered in Vancouver, Washington, is a supplier of wheel end components to the North American commercial vehicle industry.
The addition of KIC marks Accuride's first acquisition under the ownership of Crestview Partners, a New York-based private equity firm.
Crestview acquired Accuride in November 2016 as a growth platform in the global commercial vehicle components industry. The transaction is expected to close in 2Q17.
KIC is a North American supplier of wheel-end components for medium and heavy-duty trucks and trailers.
The firm supplies brake drums, rotors, hub and drum assemblies, steel wheels and aluminum wheels to both original equipment manufacturers and aftermarket distributors.
KIC designs and tests its own products and partners with contract manufacturers located throughout the world. KIC is headquartered in Vancouver, Wash., and operates through nine distribution centers located in the United States, Canada, and Mexico.
With headquarters in Evansville, Ind., USA, Accuride is a supplier of components to the North American and European commercial vehicle industries.
The company's products include commercial vehicle wheels and wheel-end components and assemblies. The company's products are marketed under its brand names, which include Accuride, Accuride Wheel End Solutions, Gunite and Gianetti Ruote. Accuride is a portfolio company of Crestview Partners.
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|Publication:||M2 EquityBites (EQB)|
|Date:||May 2, 2017|
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