Indiana-based automotive components supplier Accuride announced today that it has entered into an agreement to acquire German steel wheel manufacturer Mefro Wheels, with the intent of expanding its manufacturing reach in Europe and Asia.
Headquartered in Soligen, Germany, Mefro is a privately owned supplier of commercial vehicle and automotive steel wheels in Europe and Asia. It has approximately 3,000 employees and eight manufacturing plants—three in Germany, two in Russia, and one each in France, Turkey and China.
Accuride, which was acquired by private equity firm Crestview Partners in 2016, has manufacturing facilities in the United States, Canada, Mexico and Italy. It began a strategic global expansion in 2015 with the acquisition of Italian steel wheel supplier Gianetti Ruote in 2015.
In May 2017, Accuride acquired commercial vehicle wheel-end maker KIC, based in Vancouver, Washington.
Accuride President and CEO Rick Dauch said in a statement that the Mefro Wheels acquisition will increase the company’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 business.”
Accuride, a legacy company of Firestone, started making wheels for the auto industry in 1906. At one time, Accuride manufactured 80% of all the steel wheels in North American heavy trucks.