Accuride agrees to be acquired by private equity firm Crestview Partners
Post the transaction, Accuride will remain an independent company with continuity of leadership, business units and worldwide operations
Accuride Corporation, which supplies components to commercial vehicle manufacturers in North American and Europe, announced on 2 September that it has entered into an agreement to be acquired by funds managed by Crestview Partners, a New York- based private equity firm, for USD2.58 per share in cash, according to a press release. Accuride expects to soon hold a special meeting of its shareholders to consider the proposed merger. The purchase price represents a 55% premium over Accuride’s closing share price on 1 September, and a 66% premium over the 30-day volume weighted average price as of the same date.
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