Accuride Emerges From Restructuring With Interim CEO, New Owners

Accuride has emerged from Chapter 11 with a new interim CEO, Geoff Bruce, and new owners, including KKR and Caspian.

• Restructuring equitizes over $400M of funded debt and restructures ~$170M of additional obligations
• New investment from existing investors includes $70M asset-based lending facility and a $95M+ exit facility
• Former CEO Robin Kendrick retiring, effective immediately, but will remain as a director
• New board includes five directors
• Accuride to accelerate investments and innovation in its core steel, aluminum products
• Company will continue manufacturing across US and Mexico facilities

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