TI Fluid Systems

TI Fluid Systems 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, U.S. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

TI Fluid Systems
TypePublic limited company
LSE: TIFS
IndustryAutomotive Engineering
Founded2000
HeadquartersOxford, England, UK
Key people
Manfred Wennemer (Chairman)
William L. Kozyra, (CEO and President)
ProductsAutomotive fluid systems
Revenue€3,411.1 million (2019)[1]
€258.9 million (2019)[1]
€144.6 million (2019)[1]
Number of employees
27,000 (2020)[2]
Websitewww.tiautomotive.com

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.[3] It was acquired by TI Group plc in 1988.[4] 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.[5]

In 2007, the company was acquired by a consortium of private equity investors.[6] The company was forced to go through a debt-to-equity swap in 2009 following the global economic downturn.[3]

William "Bill" L. Kozyra was named chairman, chief executive officer and president of TI Automotive in May 2008.[7]

In January 2015, the company was acquired by Bain Capital for $2.4 billion.[8][9]

In October 2017, the company floated on the London Stock Exchange under its new name of TI Fluid Systems.[10] The company floated 25 per cent of its shares.[11]

Structure

The company has two divisions: fuel tank systems, and fuel tank and delivery systems.[12]

References
  1. "Preliminary Results 2019" (PDF). TI Fluid Systems. Retrieved 17 March 2020.
  2. "Overview". investors.tifluidsystems.com.
  3. "TI Fluid Systems looks to raise €600m through London IPO". Financial Times. Retrieved 2018-02-14.
  4. "UK: Why TI Group went west". Management Today. 1 April 1996. Retrieved 14 February 2018.
  5. TI Group plans to sell off auto suppliers
  6. "Exclusive: Cooper-Standard weighs merger with TI Automotive - sources". Reuters.
  7. "Torn Apart & Rebuilt".
  8. "TI Automotive to be acquired by Bain for $2.4 billion, report says". Auto News. 27 January 2016. Retrieved 29 December 2016.
  9. "TI Fluid Systems revives London listing plans". Reuters.
  10. "Bain Capital takes second shot at TI Fluid Systems IPO". Real Deals. 10 October 2017. Retrieved 30 November 2017.
  11. LaForest, Audrey. "TI Fluid Systems takes second shot at London IPO - Plastics News". Plastics News. Retrieved 2018-02-14.
  12. "Fluid Carrying Systems | TI Automotive". www.tiautomotive.com. Retrieved 2018-02-14.
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