AUBURN HILLS, Mich. - 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 Private Equity, 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, 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,” 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 Private Equity. 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. The Company’s competitive advantages include its unparalleled revenue diversification, extensive low cost global footprint, award winning technologies, product development alignment with future regulatory requirements, optimal level of vertical integration, and a management team with a track record of significantly improved performance. For more information visit http://www.tiautomotive.com/.
Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since our founding in 1984. Our team of more than 400 investment professionals creates value for our portfolio companies through our global platform and depth of expertise in key vertical industries including consumer/retail, financial and business services, healthcare, industrials, and technology, media and telecommunications. In addition to private equity, Bain Capital invests across asset classes including credit, public equity and venture capital, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.
This press release has been updated to reflect the new business unit name, "Bain Capital Private Equity," which was changed from "Bain Capital" or "Bain Capital, LP."