Accuride

Year:
2015

Type of intervention:
Business development

The company: Based in Evansville (USA), Accuride Corporation is leader in the supply of components for the global industry of commercial vehicles. Its production includes wheels for vehicles and motorcycles; wheel-end components with assembly and special cast-iron components for a broad range of vehicles for agriculture, construction and mineral extraction, with applications for the oil and gas equipment.

Why
we
intervened

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Our intervention was aimed at assisting the acquisition of Giannetti Ruote, which is part of Magnetto Wheels Group, with particular regard to the Human Resources topics. Giannetti Ruote was born in 1880 as wheel producer for agriculture machines. Today it provides steel wheels for the main producers of commercial vehicles equipment, including trucks, buses and tractor-trailers in Europe.  Its production and engineering center is located in Ceriano Laghetto (near Milan), Italy.

How
we
intervened

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-Qualitative and quantitative analysis of the key data related to the company;

-Assistance in the design of the operation and in the definition of the related structure, with particular attention to the restructuring project related to human resources;

-Assistance in the due diligence activities;

-Assistance in the negotiations with the various counterparts involved up to the closing.

The outcome

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The operation was eventually completed in November 2015 after a long Due Diligence activity. The difficulties encountered were due to layoff strategy regarding the employees. Difficulties that had not been of immediate understanding for the buyers. Accuride has become one of the most significant wheel suppliers for commercial vehicles producers in Europe.