{{Short description|British multinational company}} {{Infobox company | name = TI Fluid Systems plc | logo = TI Fluid Systems logo.svg | type = Private | traded_as = {{lse|TIFS}} | foundation = 2000 | location =Auburn Hills,Michigan<ref name="auto">{{Cite web|url=https://tifluidsystems.com/abc-completes-acquisition-tifs/|title=ABC Technologies Completes Acquisition of TI Fluid Systems; Combined Business Will Rebrand as TI Automotive|date=April 15, 2025}}</ref> | industry = Automotive Engineering | key_people = Manfred Wennemer (Chairman)<br> Hans Dieltjens, (CEO and President) | products = Automotive fluid systems | revenue = {{decrease}} €3,360.3 million (2024)<ref name=results>{{cite web|url=https://tifluidsystems.com/wp-content/uploads/2025/03/TIFS-FY-2024-RNS-FULL-100325.pdf|title=Preliminary Results 2024|publisher=TI Fluid Systems|access-date=14 March 2025}}</ref> | operating_income = {{decrease}} €173.0 million (2024)<ref name=results/> | net_income = {{decrease}} €32.5 million (2024)<ref name=results/> | num_employees = 25,600 (2023)<ref>{{Cite web|url=https://investors.tifluidsystems.com/overview|title=Overview|publisher=TI Fluid Systems|access-date=18 February 2023|archive-date=2 November 2021|archive-url=https://web.archive.org/web/20211102004929/https://investors.tifluidsystems.com/overview|url-status=dead}}</ref> | website = {{URL|https://www.tifluidsystems.com}} | parent = Apollo Global Management | subsid = }} '''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.
Headquartered in Auburn Hills, Michigan, United States,<ref name="auto"/><ref>{{Cite web |title=Contact Us {{!}} TI Fluid Systems |url=https://tifluidsystems.com/contact/ |access-date=2025-02-25 |website=TIFS |language=en-US}}</ref> 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.<ref name=":2">{{Cite news |last=Sweney |first=Mark |date=2024-11-29 |title=UK car parts firm TI Fluid Systems bought by Canadian rival in latest overseas takeover |url=https://www.theguardian.com/business/2024/nov/29/uk-car-parts-ti-fluid-systems-abc-takeover-jobs |access-date=2025-02-25 |work=The Guardian |language=en-GB |issn=0261-3077}}</ref>
==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.<ref name=":0">{{cite news|url=https://www.ft.com/content/dcadfd23-47c4-38c2-b544-6be3bc8506ad|title=TI Fluid Systems looks to raise €600m through London IPO|work=Financial Times|language=en-GB|first=Nathalie|last=Thomas|date=29 September 2016}}</ref> It was acquired by TI Group plc in 1988.<ref>{{cite news|url=https://www.managementtoday.co.uk/uk-why-ti-group-went-west/article/410882|title=UK: Why TI Group went west|date=1 April 1996|first=Andrew|last=Lorenz|work=Management Today|access-date=14 February 2018}}</ref> 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.<ref>{{cite news|url=https://www.wsj.com/articles/SB969263251443460192|title=Smiths Industries Agrees to Acquire TI Group in $2.48 Billion Transaction|newspaper=Wall Street Journal|date=19 September 200|access-date=16 March 2023}}</ref>
In 2007, the company was acquired by a consortium of private equity investors.<ref>{{cite news|url=https://www.reuters.com/article/us-tiautomotive-cooperstandard/exclusive-cooper-standard-weighs-merger-with-ti-automotive-sources-idUSBREA1O1ZX20140225|title=Exclusive: Cooper-Standard weighs merger with TI Automotive - sources|work=Reuters|first=Soyoung|last=Kim|date=26 February 2014}}</ref> The company was forced to go through a debt-to-equity swap in 2009 following the global economic downturn.<ref name=":0" />
William "Bill" L. Kozyra was named chairman, chief executive officer and president of TI Automotive in May 2008.<ref>{{cite news|url=http://www.autonews.com/apps/pbcs.dll/article?AID=/20100927/OEM01/309279936|title=Torn Apart & Rebuilt|first=Lindsay|last=Chapel|date=27 September 2010|work = Automotive News}}</ref>
In January 2015, the company was acquired by Bain Capital for $2.4 billion.<ref>{{cite news|url=http://www.autonews.com/article/20150127/OEM10/150129826/ti-automotive-to-be-acquired-by-bain-for-$2.4-billion-report-says|title=TI Automotive to be acquired by Bain for $2.4 billion, report says|work=Automotive News|date=27 January 2016|access-date=29 December 2016}}</ref><ref>{{Cite news|url=https://www.reuters.com/article/us-ti-fluid-listing/ti-fluid-systems-revives-london-listing-plans-idUSKBN1CE0EY|title=TI Fluid Systems revives London listing plans|date=9 October 2017|work=Reuters}}</ref>
In October 2017, the company floated on the London Stock Exchange under its new name of TI Fluid Systems.<ref>{{cite news|url=https://realdeals.eu.com/news/2017/10/10/bain-ti-fluid-systems-ipo/|title=Bain Capital takes second shot at TI Fluid Systems IPO|date=10 October 2017|first=Darragh|last=Riordan|work=Real Deals|access-date=30 November 2017}}</ref> The company floated 25 percent of its shares.<ref name=":1">{{Cite news|url=http://www.plasticsnews.com/article/20171025/NEWS/171029942/ti-fluid-systems-takes-second-shot-at-london-ipo|title=TI Fluid Systems takes second shot at London IPO - Plastics News|last=LaForest|first=Audrey|work=Plastics News|date=25 October 2017}}</ref>
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.<ref>{{Cite web |last=Leggett |first=David |date=2023-09-11 |title=Signal: TI Fluid Systems to acquire Cascade Engineering Europe |url=https://www.just-auto.com/news/signal-ti-fluid-systems-to-acquire-cascade-engineering-europe/ |access-date=2023-09-11 |website=Just Auto |language=en-US}}</ref>
In December 2024, the directors agreed a takeover offer from ABC Technologies of Canada, a company controlled by Apollo Global Management.<ref>{{Cite web|url=https://www.business-live.co.uk/technology/abc-technologies-secures-1bn-deal-30477825|title=TI Fluid Systems agrees to be bought by of Apollo-backed ABC Technologies|first=Maria Ward-Brennan|last=www.cityam.com|date=29 November 2024|website=Business Live}}</ref> 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.<ref name=":2" /> The court approved the transaction on 8 April 2025, so allowing it to be completed.<ref>{{cite news|url=https://www.morningstar.co.uk/uk/news/AN_1744117315049491200/in-brief-court-approves-takeover-of-ti-fluid-by-abc-technologies.aspx |title=Court approves takeover of TI Fluid by ABC Technologies|date=8 April 2025|newspaper=Morning Star|access-date=10 April 2025}}</ref>
==Structure== The company has two divisions: fuel tank systems and fluid carrying systems (such as brakes, battery cooling and climate control).<ref>{{Cite web|url=https://www.tifluidsystems.com/fluid-carrying-systems/|title=Fluid Carrying Systems {{!}} TI Fluid Systems|website=www.tifluidsystems.com|access-date=2021-04-26}}</ref>
==References== {{reflist|2}}
==External links== * [http://www.tifluidsystems.com/ Official website]
{{TI Group}}
Category:Engineering companies of the United States Category:Manufacturing companies based in Michigan Category:Auburn Hills, Michigan Category:Manufacturing companies established in 2000 Category:2000 establishments in Michigan Category:2025 mergers and acquisitions