Accuride Reaches Agreement to Acquire KIC

Accuride Corporation – a leading supplier of components to the North American and European commercial vehicle industries –  has announced that it has reached an agreement to acquire KIC LLC and certain of its affiliated entities.

KIC, headquartered in Vancouver, Washington, is a leading supplier of wheel end components to the North American commercial vehicle industry.

The addition of KIC marks Accuride’s first acquisition under the supportive ownership of Crestview Partners, a leading 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 the current quarter of 2017.

“Combining the tremendous strengths of KIC and Accuride will enable us to increase competitiveness and expand into new market segments,” Accuride President and CEO Rick Dauch said.  “Our similar product and technology offerings mesh well; while the combination of our highly complementary business models gives us greater capacity and ability to flex up and down in response to industry cycles and customer demand.

With headquarters in Evansville, Ind., USA, Accuride Corporation is a leading 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™.

Category: General Update, Wheels & Tires