LIVONIA, Mich. — Accuride Corporation has successfully emerged from Chapter 11 bankruptcy, completing a financial restructuring that eliminates over $400 million in funded debt and positions the company for long-term growth.
The reorganization also restructures approximately $170 million in additional obligations and secures new investment from existing stakeholders. Accuride has obtained a $70 million asset-based lending facility and an exit facility exceeding $95 million, significantly bolstering liquidity as the company focuses on strengthening its presence in North America’s wheels market.
With the completion of the restructuring, Accuride’s former lenders—including KKR, Caspian, and accounts managed by Guggenheim Partners Investment Management, LLC—have taken ownership of the company. The company’s newly formed board of directors, featuring seasoned industry and financial professionals, will oversee the transition and support future growth initiatives.
“Accuride has successfully established a robust capital structure with access to significant liquidity, positioning the company for long-term growth,” said Geoff Bruce, interim CEO and former president of Accuride’s Wheels North America division. “With a strong market position, an innovation-driven approach, and a talented team, we are well-equipped to deliver value to our customers across North America.”
The restructured board of directors includes Fred Bentley, president and CEO of DexKo Global, as board chair, alongside Douglas Del Grosso, former president and CEO of Adient, as an independent director. Lauren Krueger, managing director at KKR, and Michael Dussinger, managing director at Guggenheim Partners, also join the board.
“The board is committed to supporting Accuride’s growth and unlocking its full potential,” said Bentley. “With a dedicated focus on high-quality and innovative wheels for the North American market, Accuride is well-positioned for success.”
As part of the restructuring, Accuride plans to accelerate investments in its core steel and aluminum wheel products, operational efficiencies, and lightweighting and coating technologies. The company will maintain its U.S. and Mexico manufacturing operations while continuing to prioritize customer value and innovation.
The leadership transition includes the planned retirement of Robin Kendrick as president and CEO. Kendrick will remain on the reconstituted board, while Bruce serves as interim CEO until a permanent successor is named.
The restructuring was advised by Kirkland & Ellis as legal counsel, Perella Weinberg as investment banker, and Alvarez & Marsal as restructuring advisor to Accuride. KKR and the lender group were represented by Weil, Gotshal & Manges LLP as legal counsel and Lazard as investment banker.
