Commercial vehicle component supplier Accuride Corporation says it has sold its subsidiary Fabco Automotive Corporation (Fabco) to Fabco Holdings, a new company formed and capitalised by Wynnchurch Capital, in partnership with Stone River Capital Partners.
Located in Livermore, California, Fabco produces a range of steer drive axles, transfer cases, split shaft power take offs, and other industry speciality products for the commercial severe-duty industry.
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“Throughout its history, Fabco has engineered and brought to market solution-providing products, establishing it as a brand name in the severe-duty commercial vehicle industry,” said Accuride president and CEO Rick Dauch.
“We believe Fabco is an exceptional supplier of heavy duty, all-wheel drive components to the severe-duty vehicle industry,” said Wynchurch partner Terry Theodore.
“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. We intend to apply proceeds from the sale of Fabco to enhance our operational improvement initiatives and global growth plans.”
BMO Capital Markets acted as financial advisor to Accuride on the transaction.
