TI Fluid Systems
British multinational company
From Wikipedia, the free encyclopedia
TI Fluid Systems plc is a British-American 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.
 | |
| Company type | Private |
|---|---|
| LSE: TIFS | |
| Industry | Automotive Engineering |
| Founded | 2000 |
| Headquarters | Auburn Hills,Michigan[1] |
Key people | Manfred Wennemer (Chairman) Hans Dieltjens, (CEO and President) |
| Products | Automotive fluid systems |
| Revenue |  €3,360.3 million (2024)[2] |
| €173.0 million (2024)[2] | |
| €32.5 million (2024)[2] | |
Number of employees | 25,600 (2023)[3] |
| Parent | Apollo Global Management |
| Website | www |
Headquartered in Auburn Hills, Michigan, United States,[1][4] it was listed on the London Stock Exchange until it was acquired by Toronto-based ABC Technologies, a company controlled by Apollo Global Management, in April 2025.[5]
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]