TI Fluid Systems

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TI Fluid Systems
TypePublic limited company
  • LSE: TIFS
  • FTSE 250 component
IndustryAutomotive Engineering
Founded2000
HeadquartersOxford, England, UK
Key people
Manfred Wennemer (Chairman)
William L. Kozyra, (CEO and President)
ProductsAutomotive fluid systems
RevenueDecrease €2,814.5 million (2020)[1]
Decrease €128.3 million (2020)[1]
Decrease €(252.2) million (2020)[1]
Number of employees
27,000 (2022)[2]
Websitewww.tifluidsystems.com

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.

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.

In 2007, the company was acquired by a consortium of private equity investors.[5] 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.[6]

In January 2015, the company was acquired by Bain Capital for $2.4 billion.[7][8]

In October 2017, the company floated on the London Stock Exchange under its new name of TI Fluid Systems.[9] The company floated 25 per cent of its shares.[10]

Structure[]

The company has two divisions: fuel tank systems and fluid carrying systems (such as brakes, battery cooling and climate control).[11]

References[]

  1. ^ a b c "Preliminary Results 2020" (PDF). TI Fluid Systems. Retrieved 16 March 2021.
  2. ^ "Overview". TI Fluid Systems. Retrieved 17 February 2022.
  3. ^ a b Thomas, Nathalie (29 September 2016). "TI Fluid Systems looks to raise €600m through London IPO". Financial Times.
  4. ^ Lorenz, Andrew (1 April 1996). "UK: Why TI Group went west". Management Today. Retrieved 14 February 2018.
  5. ^ Kim, Soyoung (26 February 2014). "Exclusive: Cooper-Standard weighs merger with TI Automotive - sources". Reuters.
  6. ^ Chapel, Lindsay (27 September 2010). "Torn Apart & Rebuilt". Automotive News.
  7. ^ "TI Automotive to be acquired by Bain for $2.4 billion, report says". Automotive News. 27 January 2016. Retrieved 29 December 2016.
  8. ^ "TI Fluid Systems revives London listing plans". Reuters. 9 October 2017.
  9. ^ Riordan, Darragh (10 October 2017). "Bain Capital takes second shot at TI Fluid Systems IPO". Real Deals. Retrieved 30 November 2017.
  10. ^ LaForest, Audrey (25 October 2017). "TI Fluid Systems takes second shot at London IPO - Plastics News". Plastics News.
  11. ^ "Fluid Carrying Systems | TI Fluid Systems". www.tifluidsystems.com. Retrieved 2021-04-26.

External links[]

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