Affiliates of private investment firm Bain Capital have completed the acquisition of TI Automotive, a provider of automotive fluid storage, carrying and delivery systems for passenger cars and light trucks.
Financial terms of the private transaction, which was previously announced on 27 January, 2015, have not been disclosed.
TI Automotive has its corporate offices in Auburn Hills, Michigan and has facilities in 29 countries with highly diversified sales in every key market. TI Automotive has a broad yet exclusive focus on vehicle fluid management, and major global product areas include Fluid Carrying Systems, Tank Systems, Pump and Module Systems, HVAC Fluid Systems and Powertrain Components.
"TI Automotive is extremely excited to usher in our next phase of growth in partnership with Bain Capital," says Bill Kozyra, TI Automotive President, CEO and Chairman of the Board, who will continue in his current roles leading the existing management team. "We are looking forward to working with Bain Capital which has been a big supporter of TI Automotive. This is an exciting time for our company."
"TI Automotive has achieved leading market positions across its product lines by having a disciplined focus on manufacturing high quality, performance critical fluid systems for global automotive OEMs," says Todd Cook (pictured), a Managing Director at Bain Capital. "Bain Capital brings deep experience and a track record of success in the global automotive industry. We look forward to collaborating with Bill Kozyra and the management team to grow the business by enhancing the product portfolio and advancing the technology at an even faster pace."
