Accuride Completes KIC Acquisition

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Accuride is headquartered in Evansville. Accuride is headquartered in Evansville.
EVANSVILLE -

Evansville-based Accuride Corp. has completed its acquisition of Washington-based KIC LLC. Financial terms of the deal were not disclosed and Accuride says a plan will soon be put into place to ensure a smooth integration.

Accuride says KIC President John Schneider, Chief Operating Officer Omar Fakhoury and Gunite President Gregory Risch will be responsible for executing the integration plan. The KIC brand wheel end components will be folded into the Accuride portfolio as part of the deal.

KIC co-founder Greg Hatton will join the Accuride Board of Directors and will also assist with the integration.

"Today’s announcement initiates the process of creating a single wheel end system business at Accuride that leverages the tremendous strengths of Gunite and KIC, while maintaining both strong brands," said Rich Dauch, chief executive officer of Accuride. "Over the next 60 to 90 days, the Accuride and KIC leadership teams will work closely together to further develop and finalize our plan to maximize the synergies between our highly complementary businesses."

KIC is a supplier of wheels and wheel end components for the commercial vehicle industry. The acquisition is the first for Accuride since it was purchased last year by New York-based private equity firm Crestview Partners.

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