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Investing.com-- Oaktree Capital Management is in discussions to potentially acquire Superior Industries International (NYSE:SUP), the U.S.-based aluminum wheel maker, amid mounting financial pressure, The Wall Street Journal reported on Thursday, citing people familiar with the matter.
Oaktree leads a group of lenders holding Superior’s senior secured debt and has retained Paul Weiss as legal counsel, the WSJ report said.
Superior Industries disclosed on May 12 that lenders agreed to provide up to $70 million in new capital, contingent on the company meeting certain milestones.
The Southfield, Michigan-based company, which manufactures wheels primarily in Mexico and Poland, has been hit hard by recent tariffs on imported auto parts.
Superior had warned that customer order cancellations tied to the tariffs could wipe out 33% of its projected 2025 revenue, leading to a liquidity crunch.
Superior shares closed 5% higher on Thursday. However, the stock has lost nearly 75% so far in 2025.