TI Fluid Systems

Last updated
TI Fluid Systems plc
Company type Public limited company
Industry Automotive Engineering
Founded2000
Headquarters Oxford, England, UK
Key people
Manfred Wennemer (Chairman)
Hans Dieltjens, (CEO and President)
ProductsAutomotive fluid systems
RevenueDecrease2.svg €3,360.3 million (2024) [1]
Decrease2.svg €173.0 million (2024) [1]
Decrease2.svg €32.5 million (2024) [1]
Owner Bain Capital (28.43 % ) [2]
Number of employees
25,600 (2023) [3]
Website www.tifluidsystems.com

TI Fluid Systems plc is a British multinational company which develops, manufactures and supplies automotive fluid storage, carrying and delivery systems. The company serves the automotive aftermarket through Bundy, Walbro and Marwal brands. The company's headquarters are located in Oxford, England, with Corporate Offices based in Auburn Hills, Michigan, United States. [4] It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. In December 2024, Toronto-based ABC Technologies announced it would acquire TI Fluid Systems in full for £1.83bn, with completion expected in the first half of 2025. [5]

Contents

History

The company traces its history back to the Bundy Corporation, which was founded in 1922 and supplied petroleum fuel lines to the Ford Model T. [6] It was acquired by TI Group plc in 1988. [7] After Smiths Group acquired TI Group in 2000, Smiths Group transferred its newly acquired automotive business into a corporate entity in 2001 thereby creating TI Automotive. [8]

In 2007, the company was acquired by a consortium of private equity investors. [9] The company was forced to go through a debt-to-equity swap in 2009 following the global economic downturn. [6]

William "Bill" L. Kozyra was named chairman, chief executive officer and president of TI Automotive in May 2008. [10]

In January 2015, the company was acquired by Bain Capital for $2.4 billion. [11] [12]

In October 2017, the company floated on the London Stock Exchange under its new name of TI Fluid Systems. [13] The company floated 25 percent of its shares. [14]

In September 2023, it was announced TI Fluid Systems has acquired the Halásztelek-headquartered plastic injection moulding company, Cascade Engineering Europe Kft. for $27.7 million. [15]

In December 2024, the directors agreed a takeover offer from ABC Technologies of Canada, a company controlled by Apollo Global Management. [16] The £1.83bn deal includes plans to cut up to 2,700 jobs worldwide, around 10% of TI Fluid Systems’ workforce, with staff at its Oxford headquarters being reduced by a third. [5] The court approved the transaction on 8 April 2025, so allowing it to be completed. [17]

Structure

The company has two divisions: fuel tank systems and fluid carrying systems (such as brakes, battery cooling and climate control). [18]

References

  1. 1 2 3 "Preliminary Results 2024" (PDF). TI Fluid Systems. Retrieved 14 March 2025.
  2. ↑ "TI Fluid Systems plc: Shareholders, Shareholding Structure - MarketScreener". www.marketscreener.com.
  3. ↑ "Overview". TI Fluid Systems. Retrieved 18 February 2023.
  4. ↑ "Contact Us | TI Fluid Systems". TIFS. Retrieved 2025-02-25.
  5. 1 2 Sweney, Mark (2024-11-29). "UK car parts firm TI Fluid Systems bought by Canadian rival in latest overseas takeover". The Guardian. ISSN   0261-3077 . Retrieved 2025-02-25.
  6. 1 2 Thomas, Nathalie (29 September 2016). "TI Fluid Systems looks to raise €600m through London IPO". Financial Times.
  7. ↑ Lorenz, Andrew (1 April 1996). "UK: Why TI Group went west". Management Today. Retrieved 14 February 2018.
  8. ↑ "Smiths Industries Agrees to Acquire TI Group in $2.48 Billion Transaction". Wall Street Journal. 19 September 200. Retrieved 16 March 2023.
  9. ↑ Kim, Soyoung (26 February 2014). "Exclusive: Cooper-Standard weighs merger with TI Automotive - sources". Reuters.
  10. ↑ Chapel, Lindsay (27 September 2010). "Torn Apart & Rebuilt". Automotive News.
  11. ↑ "TI Automotive to be acquired by Bain for $2.4 billion, report says". Automotive News. 27 January 2016. Retrieved 29 December 2016.
  12. ↑ "TI Fluid Systems revives London listing plans". Reuters. 9 October 2017.
  13. ↑ Riordan, Darragh (10 October 2017). "Bain Capital takes second shot at TI Fluid Systems IPO". Real Deals. Retrieved 30 November 2017.
  14. ↑ LaForest, Audrey (25 October 2017). "TI Fluid Systems takes second shot at London IPO - Plastics News". Plastics News.
  15. ↑ Leggett, David (2023-09-11). "Signal: TI Fluid Systems to acquire Cascade Engineering Europe". Just Auto. Retrieved 2023-09-11.
  16. ↑ www.cityam.com, Maria Ward-Brennan (29 November 2024). "TI Fluid Systems agrees to be bought by of Apollo-backed ABC Technologies". Business Live.
  17. ↑ "Court approves takeover of TI Fluid by ABC Technologies". Morning Star. 8 April 2025. Retrieved 10 April 2025.
  18. ↑ "Fluid Carrying Systems | TI Fluid Systems". www.tifluidsystems.com. Retrieved 2021-04-26.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.