Accuride Corp., an Indiana-based supplier of components to the North American and European commercial vehicle industries, has completed its acquisition of KIC, LLC for an undisclosed amount.
Headquartered in Vancouver, KIC is a supplier of wheel-end components for medium and heavy-duty trucks and trailers. The company will now be integrated with Accuride’s Gunite division, which focuses on drums, hubs, rotors and slack adjusters.
“Today’s announcement initiates the process of creating a single wheel end system business at Accuride that leverages the tremendous strengths of Gunite and KIC, while maintaining both strong brands,” said Accuride president and CEO Rick Dauch in a statement issued Monday. “Over the next 60 to 90 days, the Accuride and KIC leadership teams will work closely together to further develop and finalize our plan to maximize the synergies between our highly complementary businesses.”
KIC President John Schneider, KIC COO Omar Fakhoury and Gunite President Gregory Risch will be responsible for integrating KIC and Gunite, reporting to Dauch.
Greg Hatton, KIC co-founder, joins the Accuride Board of Directors.