M&A Deal Summary

KKR Acquires Accuride

On November 18, 1997, private equity firm KKR acquired manufacturer Accuride from Phelps Dodge for 480M USD

Acquisition Highlights
  • This is KKR’s 1st transaction in the Manufacturing sector.
  • This is KKR’s 85th largest (disclosed) transaction.
  • This is KKR’s 10th transaction in the United States.
  • This is KKR’s 1st transaction in Indiana.
Investment Fate
  • Accuride went public in 2005.
  • Accuride was sold to a financial buyer in 2006.
  • Accuride was sold to a financial buyer in 2016.

M&A Deal Summary

Date 1997-11-18
Target Accuride
Sector Manufacturing
Buyer(s) KKR
Sellers(s) Phelps Dodge
Deal Type Divestiture
Deal Value 480M USD

Target

Accuride

Evansville, Indiana, United States
website
Accuride Corp. is a manufacturer and supplier of wheels and wheel-end components to the global commercial vehicle markets. The company’s products include steel and aluminum commercial vehicle wheels and wheel‐end components and assemblies; and steel wheels for the European automotive and global agricultural, construction, and industrial equipment markets. Accuride Corp. was founded in 1986 and is based in Evansville, Indiana.

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Buyer(S) 1

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 10 of 426
Sector (Manufacturing) 1 of 10
Type (Divestiture) 3 of 49
State (Indiana) 1 of 3
Country (United States) 10 of 187
Year (1997) 2 of 2
Size (of disclosed) 85 of 94
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-07-21 Randall s Food Markets

Houston, Texas, United States

Randall's Food Markets, Inc. a privately owned 116 store Texas-based supermarket chain, operates 46 Randalls stores in the Houston area, 12 stores in Austin and 58 Tom Thumb stores in the Dallas/Ft. Worth area.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1998-01-01 NuVox Communications

Greenville, South Carolina, United States

NuVox Communications, Inc. is an integrated communications provider. NuVox is a competitive local exchange carrier (CLEC) offering comprehensive voice and data communications products and services to customers. NuVox delivers services via its industry MPLS-based wide area private IP network.

Buy -

Seller(S) 1

SELLER

Phelps Dodge

Phoenix, Arizona, United States

Category Company
Founded 1834
Sector Metals/Mining
Employees15,000
DESCRIPTION

Phelps Dodge is a producer of copper and molybdenum and is the largest producer of molybdenum-based chemicals and continuous-cast copper rod. The company employs 15,000 people worldwide.


DEAL STATS #
Overall 1 of 2
Sector (Manufacturing) 1 of 1
Type (Divestiture) 1 of 2
State (Indiana) 1 of 1
Country (United States) 1 of 2
Year (1997) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1988-02-13 Accuride

Evansville, Indiana, United States

Accuride Corp. is a manufacturer and supplier of wheels and wheel-end components to the global commercial vehicle markets. The company’s products include steel and aluminum commercial vehicle wheels and wheel‐end components and assemblies; and steel wheels for the European automotive and global agricultural, construction, and industrial equipment markets. Accuride Corp. was founded in 1986 and is based in Evansville, Indiana.

Buy $270M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-09-30 Cyprus Amax Minerals

Englewood, Colorado, United States

Cyprus Amax Minerals Co. specializes in the mining, extraction, and marketing of and marketing of copper, coal, lithium, and molybdenum.

Buy $1.8B