AUBURN HILLS, Mich. /PRNewswire/ -- 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, 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. Lazard advised the non-executive Directors of TI
Automotive's Board of Directors.
About TI
Automotive
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.
About Bain
Capital
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. Founded in 1984, Bain Capital has made
private equity, growth, and venture capital investments in hundreds
of companies around the world, and has deep experience in the
industrials sector, with investments in companies including Sensata
Technologies, FTE Automotive, Trinseo SA, ASIMCO and Hero MotoCorp
Ltd. Bain Capital has offices in Boston, New York, Chicago, Palo Alto, London, Munich, Dublin, Luxembourg, Tokyo,Shanghai, Hong Kong, Mumbai and Melbourne.