Accuride sells interest in Euro steel wheel business

Accuride Corporation announced Thursday 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), which is based in Munich, Germany.

Accuride 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.

Lincoln International acted as the exclusive financial advisor to Accuride on this transaction, and Gianni, Origoni, Cappelli & Partners served as Accuride’s primary legal advisor on the sale, the company says.

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