TI Automotive, a provider of fluid storage, carrying and delivery systems to automotive manufacturers, has entered into an agreement to be acquired by Bain Capital. The existing management team will continue to lead the company. Closing of the acquisition is expected in mid-2015.
“TI Automotive is a market leading company that serves its customers’ needs extraordinarily well, through a combination of innovative engineering, extensive experience, and a very strong commitment to quality,” said Todd Cook, a Managing Director at Bain Capital. “We look forward to partnering with CEO Bill Kozyra and the TI management team to support them in their next phase of growth.”
TI Automotive is an automotive supplier of fluid carrying systems; tank systems; pump and module systems; HVAC fluid systems, and powertrain components. The company is headquartered in the Detroit suburb of Auburn Hills and has facilities in 29 countries (www.tiautomotive.com).
“We are excited that Bain Capital will invest in TI Automotive to grow the business and to enable our team to focus solely on what we do best – manufacturing high quality, safety critical fluid systems for our customers,” said Bill Kozyra, TI Automotive President, CEO and Chairman of the Board, who will continue in his current roles. “Bain Capital brings to TI Automotive a deep understanding of our business and a well-known track record of global success in the automotive industry, and we look forward to partnering with them.”
Goldman, Sachs & Co. and UBS Securities are serving as financial advisors to Bain Capital. The transaction has committed financing in place and is not subject to a financing condition.
Bain Capital manages several pools of capital, including private equity, venture capital, and public equity and leveraged debt assets. The firm has more than $80 billion in assets under management. Since its inception in 1984, Bain Capital has made private equity investments and add-on acquisitions in more than 450 companies in a variety of industries around the world. The firm has offices in Boston, New York, Chicago, Palo Alto, London, Munich, Dublin, Luxembourg, Tokyo, Shanghai, Hong Kong, Mumbai and Melbourne (www.baincapital.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 1-27-15