Crestview Partners have completed the acquisition transaction of Accuride Corp. after approving a proposed transaction last week.
“Today marks the start of a new and exciting chapter for our storied company. As a stand-alone business within Crestview’s portfolio of companies, Accuride will serve as a platform for further growth and consolidation in the global wheels and wheel-end sectors as we continue to deliver world-class operating performance and products for our customers. Our Executive Leadership Team is energized to lead Accuride into this new phase of expansion for our business and look forward to working closely with the Crestview team,” said Accuride President and CEO Rick Dauch.
Dauch will continue to serve as Accuride’s President and CEO and will be supported by the other members of the company’s executive leadership team. Additionally, Accuride will still operate under its current brand name and remain headquartered in Evansville, Ind., with operations in the U.S., Canada, Mexico and Italy.
According to Accuride, under the terms of the Merger Agreement with Crestview Partners, except as otherwise provided, Accuride shareholders will receive $2.58 in cash for each share of Accuride common stock they own.
