Accuride Corp., a supplier of wheel end systems to the global commercial vehicle industry, announced that it has sold its interest in Gianetti Ruote, S.r.l., a European manufacturer of steel wheels, to a company of the international investment group Quantum Capital Partners (QCP), based in Munich, Germany.
Accuride first acquired a majority stake in steel wheel manufacturer Gianetti Ruote S.r.l. from the MW Italia wheels division of CLN S.p.A. in 2015. This week the company announced it has completed the sale of its interest in Gianetti pursuant to certain commitments it made to the European Commission to secure the Commission’s approval of Accuride’s June 1, 2018, acquisition of mefro wheels, GmbH.
Headquartered in Solingen, Germany, mefro wheels supplies steel wheels to the European and Asian automotive, commercial vehicle and construction and agricultural equipment industries and operates eight manufacturing facilities in Europe and Asia.
Lincoln International acted as the exclusive financial adviser to Accuride on this transaction, and Gianni, Origoni, Cappelli & Partners served as Accuride’s primary legal adviser on the sale.