TI Automotive, an Auburn Hills, Michigan-based provider of fluid storage, carrying and delivery systems to automotive manufacturers, has entered into a definitive agreement to be acquired by Bain Capital, a global private investment firm.
The amount of the transaction, which is expected to close in the middle of this year, was not disclosed.
Following the close, the existing management team led by Bill Kozyra, President, CEO and Chairman of the Board, will continue to lead the company.
With facilities in 29 countries in all key markets, TI Automotive is a diversified automotive supplier with market positions across its product lines. It has a 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 investment is aimed to help the company to grow the business.