TI Automotive (Auburn Hills, Michigan / USA; www.tiautomotive.com) is to be acquired by private investment firm Bain Capital (Boston, Massachusetts / USA; www.baincapital.com). The existing management team will continue to lead the company. Financial terms of the private transaction were not disclosed. TI Automotive 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.

Bill Kozyra, TI Automotive president, CEO and board chairman, said: “We are excited that Bain Capital will invest in TI Automotive to grow the business and to enable our team to focus solely on what we do best – manufacturing high quality, safety critical fluid systems for our customers. Bain Capital brings to TI Automotive a deep understanding of our business and a well-known track record of global success in the automotive industry, and we look forward to partnering with them.”

The deal, which is expected to be closed in mid-2015, is subject to approval from TI Automotive shareholders, a substantial majority of which have pledged to support the transaction, the company said. The manufacturer has facilities in 29 countries, including Germany, the Czech Republic and Turkey.