TI Automotive, a leading provider of automotive fluid storage, carrying and delivery systems for passenger cars and light trucks, today announced the completion of the acquisition of the company by affiliates of Bain Capital, a leading global private investment firm. Financial terms of the private transaction, which was previously announced on January 27, 2015, were not disclosed.
TI Automotive has its corporate offices in Auburn Hills, Mich., 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," said 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," said Todd Cook, 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."
Weil, Gotshal & Manges LLP served as legal counsel to TI Automotive. Blackstone Advisory Partners served as financial advisor, and Latham & Watkins LLP served as legal counsel to an ad hoc group of shareholders of TI Automotive. Goldman, Sachs & Co. and UBS Securities LLC served as financial advisors, Ropes & Gray served as legal counsel, and PWC served as accounting advisor, to Bain Capital. Lazard advised the non-executive Directors of TI Automotive's Board of Directors.
TI Automotive is a highly diversified automotive supplier with leading market positions in the majority of its products. 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. For more information visit http://www.tiautomotive.com.
Bain Capital, LLC (www.baincapital.com) is one of the world's foremost private investment firms, with approximately $75 billion under management across several asset classes including private equity, venture capital, public equity, credit products and absolute return. Bain Capital's more than 400 professionals are collectively the single largest investor in all of its funds and are dedicated to investing in and building its portfolio companies.
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