Bain to Buy TI Automotive
Oxford, England-based TI Automotive Ltd. has agreed to be acquired by private-equity firm Bain Capital LLC. Bloomberg News estimates the deal's worth at about $2.4 billion.
TI Automotive's operational headquarters is in Auburn Hills, Mich. The company has been in talks with Bain about the sale for more than a year. Chairman, President and CEO Bill Kozyra and his existing management team will continue their roles at the company.
Discussions with Bain were suspended last January as TI Automotive considered a rival offer from London-based Pamplona Capital Management LLP. Reuters reported last February that Cooper-Standard Holdings Inc. also was weighing a possible bid.
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