Accuride Corp. has sold its Fabco Automotive Corp. subsidiary to Fabco Holdings Inc., a company formed by two private investment groups, Wynnchurch Capital, Ltd. and Stone River Capital Partners, L.L.C. Fabco is a Livermore, CA, company that produces steering axles, transfer cases, split shaft power take-offs, and other drivetrain components for “severe duty” commercial vehicles, such as school buses, dump trucks, and off-road vehicles.
The price of the sale was not announced, but Accuride president and CEO Rick Dauch called it “a win-win for all parties involved.” He said it allows the Accuride to focus more on its core business — wheel-end systems — and that the sale proceeds will support initiatives for Accuride’s operations and its global growth plans.
Accuride manufactures commercial vehicle wheels and wheel-end components. The Fabco sale is the second this year of one of its a subsidiary brands. In January, Accuride sold its Bostrom Seating Inc. unit to Commercial Vehicle Group, Inc. Its remaining brand names include Accuride, AOT Springfield, Gunite, Imperial, Brillion, and Highway Original.
“Wynnchurch is excited to have an opportunity to invest in Fabco and provide capital to support the continued growth of the business,” stated partner Terry Theodore. “We believe Fabco is an exceptional supplier of heavy duty, all-wheel drive components to the severe-duty vehicle industry. We look forward to working with Al Sunderland, the president of Fabco, along with the rest of the Fabco team, to implement a growth strategy that will provide comprehensive and responsive solutions for all customers.”