- Superior Industries International, Inc. (SSUP, Financial) to be acquired by a group of term loan investors, including Oaktree Capital Management.
- The acquisition will significantly reduce Superior's funded debt by nearly 90%.
- Transaction expected to close in Q3 2025, subject to customary approvals.
Superior Industries International, Inc. ("Superior") (OTC Pink:SSUP) has announced a definitive agreement to be acquired by a group of its term loan investors, including Oaktree Capital Management. This strategic deal involves converting approximately $550 million of term loan claims into 96.5% of the common equity of an indirect parent company of the surviving entity, aimed at enhancing long-term growth and stability.
The acquisition will be executed through a merger process, resulting in Superior's transition to a privately held company. Superior's existing revolving credit facility and factoring facilities will remain intact or be refinanced prior to the transaction's completion. Furthermore, the company's common stockholders will receive an aggregate of approximately $3.1 million in cash, while preferred stockholders are set to receive $6.2 million in cash and 3.5% of the new equity.
Superior's significant reduction in funded debt—from approximately $982 million to $125 million—positions the company to refocus on delivering high-quality, cost-competitive wheels globally. Majdi Abulaban, President and CEO, emphasized the strategic advantages of a robust financial foundation to leverage growth opportunities. Robert LaRoche of Oaktree Capital Management echoed excitement for supporting Superior during this transformative phase.
The transaction is anticipated to close in the third quarter of 2025, pending customary closing conditions and required regulatory approvals. Superior's board of directors has already approved the transaction, with stockholders holding 40% of the company's voting power backing the deal through voting and support agreements.
