Accuride Takes on Washington Supplier
Evansville-based Accuride Corp. has acquired a Washington company. The deal for KIC LLC marks the first acquisition for Accuride since it was bought last year by New York-based Crestview Partners. Terms of the KIC acquisition are not being disclosed, but Accuride expects its to close in the current quarter.
KIC is a North American supplier of wheel end components. Accuride says KIC will remain headquartered in Vancouver, Washington. Chief Executive Officer Rick Dauch says "combining the tremendous strengths of KIC and Accuride will enable us to increase competitiveness and expand into new market segments. Our similar product and technology offerings mesh well; while the combination of our highly complementary business models gives us greater capacity and ability to flex up and down in response to industry cycles and customer demand." Hatton will join Accuride's board of directors.
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