Weil Advises Superior on Acquisition by Term Loan Investor Group Including Oaktree

Weil Advises Superior on Acquisition by Term Loan Investor Group Including Oaktree.

Weil, Gotshal & Manges LLP is advising Superior Industries International, Inc., a leading global aluminum wheel supplier, on its acquisition by a group of term loan investors led by Oaktree Capital Management.

The deal represents a major strategic reset, reducing Superior’s funded debt by nearly 90% from approximately $982 million (including preferred stock) to $125 million.

As part of the transaction, the investors will convert around $550 million in term loan claims into 96.5% of the equity in a new parent entity. Preferred stock will be extinguished, with common shareholders receiving roughly $3.1 million in cash and preferred holders receiving $6.2 million and 3.5% of the new equity.

The acquisition, structured as a merger with an entity indirectly owned by the investors, is expected to close in the third quarter of 2025, pending regulatory approvals and customary closing conditions. Once completed, Superior will become a privately held company.

Its revolving credit and factoring facilities are expected to remain in place or be refinanced before closing.

“This transaction represents a pivotal milestone for Superior. Our term loan investors are reaffirming their confidence in the business and stepping in to provide the necessary financial foundation to support our long-term success."

“With the broadest portfolio in the industry, a strategically advantaged footprint, and a newly minted best-in-class balance sheet, we are well positioned to capitalize on growth opportunities with both existing and new OEM customers." 

"More than ever, we are seeing unprecedented levels of RFQs as customers seek to de-risk long supply chains and respond to evolving tariff dynamics.” said President and CEO Majdi Abulaban.

Robert LaRoche, Managing Director at Oaktree, added: “Despite recent headwinds with certain of its customers, the demand for high-quality, costcompetitive, in-region manufacturing capacity is greater than ever, and we are excited to support the Superior leadership team in this next phase.”

Weil’s cross-disciplinary team was led by M&A partners Michael J. Aiello and Amanda Fenster and Restructuring partners Gary Holtzer and Lauren Tauro. The team also included attorneys across practices including Capital Markets, Banking & Finance, Tax, Real Estate, Executive Compensation, IP, Cybersecurity, Employment, Antitrust, and Regulatory Transactions.

Superior Industries International, Inc. is a global leader in the design and manufacture of light-vehicle aluminum wheels, founded in 1957 and headquartered in Southfield, Michigan. With nine manufacturing facilities and approximately 8,000 employees across North America and Europe, the company delivers innovative, high-quality wheel designs, lightweighting technologies, and finish options to OEMs and the aftermarket—operating key brands like ATS, RIAL, ALUTEC, and ANZIO

Weil, Gotshal & Manges LLP is a leading global law firm founded in 1931 and headquartered in New York. With approximately 1,200 lawyers across offices in North America, Europe, and Asia, Weil advises top public companies, private equity firms, and financial institutions on complex matters in corporate, litigation, restructuring, tax, and executive compensation. Known for its “one-firm” approach, Weil is committed to client service, inclusion, pro bono work, wellness, and social responsibility.

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