TI Fluid Systems

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. It was acquired by TI Group plc in 1988. 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.

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

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

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

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

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.

In December 2024, the directors agreed a takeover offer from ABC Technologies of Canada, a company controlled by Apollo Global Management. 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. The court approved the transaction on 8 April 2025, so allowing it to be completed.

Structure

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

References

References

1. (April 15, 2025). "ABC Technologies Completes Acquisition of TI Fluid Systems; Combined Business Will Rebrand as TI Automotive".
2. "Preliminary Results 2024". TI Fluid Systems.
3. "Overview". TI Fluid Systems.
4. "Contact Us {{!}} TI Fluid Systems".
5. Sweney, Mark. (2024-11-29). "UK car parts firm TI Fluid Systems bought by Canadian rival in latest overseas takeover". The Guardian.
6. 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.
8. (19 September 200). "Smiths Industries Agrees to Acquire TI Group in $2.48 Billion Transaction". Wall Street Journal.
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. (27 January 2016). "TI Automotive to be acquired by Bain for $2.4 billion, report says". Automotive News.
12. (9 October 2017). "TI Fluid Systems revives London listing plans". Reuters.
13. Riordan, Darragh. (10 October 2017). "Bain Capital takes second shot at TI Fluid Systems IPO". Real Deals.
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".
16. www.cityam.com, Maria Ward-Brennan. (29 November 2024). "TI Fluid Systems agrees to be bought by of Apollo-backed ABC Technologies".
17. (8 April 2025). "Court approves takeover of TI Fluid by ABC Technologies". Morning Star.
18. "Fluid Carrying Systems {{!}} TI Fluid Systems".