Crestview Partners has agreed to buy Accuride Corp. (NYSE: ACW) for around $124 million. The purchase price values the target at $2.58 per share, based on the number of shares outstanding.
Accuride, based in Evansille, Indiana, supplies parts that are used to manufacture wheels for cars and trucks under the Accuride, Accuride Wheel End Solutions, Gunite and Giantetti Ruote Brands. Some of its notable customers include, General Motos Co. (NYSE: GM), Daimler Truck North America and Volvo Truck Corp. Earlier in 2016, Accuride sold its iron castings division, Brillion Iron Works, to Metaldyne Performance Group Inc. (NYSE: MPG) for $14 million.