Accuride has entered into an agreement to acquire Mefro Wheels, a privately owned German-based supplier of steel wheels to the commercial vehicle industries in Europe and Asia.
Mefro also produces wheels for the automotive industry and global agricultural and construction equipment manufacturers. The company is the second acquisition that Accuride has pursued since being acquired by private equity firm Crestview Partners in 2016.
Accuride’s first acquisition under Crestview Partners was of the North American component supplier KIC in May 2017.
The latest acquisition will allow Accuride to expand in Europe and Asia and provide operational and engineering resources for the company’s global customers. The deal will also let Accuride diversify into automotive and off-road construction and agriculture equipment segments.
“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,” said Rick Dauch, Accuride president and CEO. “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."