Superior Industries International, one of the largest manufacturers of aluminum wheels for OEMs in North America and Europe, has concluded its tender offer for the purchase of shares of UNIWHEELS AG for an aggregate consideration of $714.7 million, financed through approximately $670 million of newly funded debt, as well as $150 million of Preferred Equity.

“The conclusion of the tender offer marks the beginning of a new chapter for Superior as a leading global supplier of aluminum wheels with a diversified customer base, expanded geographic reach and a larger platform for future investment. We are thrilled to welcome the UNIWHEELS team to Superior, and believe this is a remarkable opportunity for our company and our collective employees. This highly transformative and synergistic transaction will deliver meaningful benefits for all of our stakeholders and positions the combined company extremely well for future growth and profitability,” said Don Stebbins, Superior’s president and CEO.

The subscription period for the tender offer expired on May 22. As of expiration, 11,445,080 shares had been validly tendered, representing approximately 92.3 percent of UNIWHEELS shares of common stock, that were acquired by Superior for an average price of 233.67zl per share, or approximately $714.7 million.

In conjunction with the close of the tender offer, Don Stebbins and Kerry Shiba will join the supervisory board of UNIWHEELS. In addition, as previously announced, Ransom Langford of TPG Growth was appointed to Superior’s board of directors in connection with the firm’s investment in Superior.