Accuride Corp. announced it has sold its Fabco Automotive Corp. subsidiary to Fabco Holdings Inc., a new company formed and capitalized by Wynnchurch Capital in partnership with Stone River Capital Partners; terms were not announced. Located in Livermore, Calif., Fabco produces a broad range of steer drive axles, transfer cases, split shaft PTOs and other specialty products for the commercial severe-duty industry.
“Throughout its history, Fabco has consistently engineered and brought to market innovative solution-providing products, establishing it as a well-respected brand name in the heavy-duty commercial vehicle industry,” says Rick Dauch, Accuride president and chief executive officer. “Today’s action is a win-win for all parties involved and advances Accuride’s strategic focus on our core wheel-end systems business. We intend to apply proceeds from the sale of Fabco to enhance our operational improvement initiatives and global growth plans.”
