Accuride Corp., an Evansville-based supplier of commercial vehicle components in North America and Europe, on Monday announced it had reached an agreement to acquire German wheelmaker Mefro Wheels.
"Mefro Wheels is a privately owned supplier of steel wheels to the European and Asian passenger car, light vehicle and commercial vehicle industries and has manufacturing operations in Germany, France, Turkey, Russia and China," Accuride officials wrote in a news release.
Details of the transaction were not disclosed. In the news release, Accuride officials said the deal "is subject to applicable anti-trust approvals."
Accuride has headquarters in Evansville and a major plant in Henderson, Kentucky.
Mefro's headquarters are in Solingren, Germany.
The acquisition would be the second international deal for Accuride since 2015. The company acquired a majority stake in an Italian steel wheel supplier that year. In May of this year, Accuride acquired KIC LLC, wheel and wheel-end component supplier in the state of Washington.
Accuride has been owned by Crestview Partners, a New York-based private equity firm, since November 2016.
“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 in the news release. “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.”