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{{Short description|British multinational company}}
{{Infobox company
{{Infobox company
| name =TI Fluid Systems
| name = TI Fluid Systems
| logo = TI Fluid Systems logo.png
| logo = TI Fluid Systems logo.svg
| type = [[Public limited company]]
| type = [[Public limited company]]
| traded_as = {{lse|TIFS}}
| traded_as = {{ubl|{{lse|TIFS}}|[[FTSE 250 Index|FTSE 250]] component}}
| foundation = 2000
| foundation = 2000
| location = [[Oxford]], [[United Kingdom]]
| location = [[Oxford]], England, UK
| corporate offices = [[Michigan]]
| industry = [[Automotive Engineering]]
| industry = [[Automotive Engineering]]
| key_people =Manfred Wennemer ([[Chairman]])<br> William L. Kozyra, ([[CEO]] and [[President]])
| key_people =Manfred Wennemer ([[Chairman]])<br> Hans Dieltjens, ([[CEO]] and [[President (corporate title)|President]])
| products = Automotive fluid systems
| products = Automotive fluid systems
| revenue = €3,348.6 million (2016)<ref name=prospectus>{{cite web|url=https://prospectus.rhimagnesita.com/wp-content/uploads/2017/10/RHI-Magnesita-Prospectus-171016.pdf|title=Prospectus|page=172|publisher=RHI Magnesita|accessdate=30 November 2017}}</ref>
| revenue ={{increase}} €3,516.2 million (2023)<ref name=results>{{cite web|url=https://tifluidsystems.com/wp-content/uploads/2024/03/TIFS-FY-2023-FINAL.pdf|title=Preliminary Results 2023|publisher=TI Fluid Systems|access-date=12 March 2024}}</ref>
| operating_income = €236.6 million (2016)<ref name=prospectus/>
| operating_income ={{increase}} €195.8 million (2023)<ref name=results/>
| net_income =€43.9 million (2016)<ref name=prospectus/>
| net_income ={{increase}} €83.6 million (2023)<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}}</ref>
| num_employees =
| website = http://www.tiautomotive.com
| website = {{URL|https://www.tifluidsystems.com}}
| parent =
| parent =
| subsid =
| subsid =
}}
}}
'''TI Fluid Systems''' 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]], UK, with Corporate Offices based in [[Auburn Hills, Michigan]]. It is listed on the [[London Stock Exchange]] and is a constituent of the [[FTSE 250 Index]].
'''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==
==History==
The company traces its history back to the Bundy Corporation, which was founded in 1922 and supplied gas lines to the [[Ford Model T]].<ref name=":0">{{Cite web|url=https://www.ft.com/content/dcadfd23-47c4-38c2-b544-6be3bc8506ad|title=TI Fluid Systems looks to raise €600m through London IPO|last=|first=|date=|website=Financial Times|language=en-GB|access-date=2018-02-14}}</ref> It was later acquired by TI Group plc in 1988.
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 investor]]s.<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" />
The current iteration of the company was created when [[Smiths Group]] divested its newly acquired automotive business in 2001 creating TI Automotive.<ref>[http://findarticles.com/p/articles/mi_hb5251/is_/ai_n20132343 TI Group plans to sell off auto suppliers]{{Dead link|date=July 2012}}</ref>


⚫
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 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|last=|first=|date=|work=Reuters|access-date=|archive-url=|archive-date=|dead-url=}}</ref> The company was forced to go through a [[debt-to-equity swap]] in 2009 following the global economic downturn.<ref name=":0" />


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>
⚫
William "Bill" L. Kozyra was named chairman, chief executive officer and president of TI Automotive in May 2008.<ref>[http://www.autonews.com/apps/pbcs.dll/article?AID=/20100927/OEM01/309279936 Torn Apart & Rebuilt]</ref>


In January 2015, the company was acquired by [[Bain Capital]] for $2.4 billion.<ref>{{cite web|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|publisher=Auto News|date=27 January 2016|accessdate=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|last=|first=|date=|work=Reuters|access-date=|archive-url=|archive-date=|dead-url=}}</ref> In 2016, the company generated sales of $3.9 billion.<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|access-date=2018-02-14}}</ref>
In October 2017, the company [[Initial public offering|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 October 2017, the company [[Initial public offering|floated]] on the [[London Stock Exchange]] under its new name of TI Fluid Systems.<ref>{{cite web|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|publisher=Real Deals|accessdate=30 November 2017}}</ref> The company floated 25 per cent of its shares.<ref name=":1" />


==Structure==
==Structure==
The company has two divisions: fuel tank systems, and fuel tank and delivery systems.<ref>{{Cite web|url=http://www.tiautomotive.com/fluid-carrying-systems/|title=Fluid Carrying Systems {{!}} TI Automotive|website=www.tiautomotive.com|access-date=2018-02-14}}</ref>
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==
==References==
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==External links==
==External links==
* [http://www.tiautomotive.com/ Official website]
* [http://www.tifluidsystems.com/ Official website]


{{TI Group}}
{{TI Group}}
{{FTSE 250 Index constituents}}
{{FTSE 250 Index constituents}}

[[Category:Engineering companies of the United States]]
[[Category:Engineering companies of the United States]]
[[Category:Manufacturing companies based in Michigan]]
[[Category:Manufacturing companies based in Michigan]]
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[[Category:Manufacturing companies established in 2000]]
[[Category:Manufacturing companies established in 2000]]
[[Category:2000 establishments in Michigan]]
[[Category:2000 establishments in Michigan]]
[[Category:Bain Capital companies]]

Latest revision as of 21:06, 25 May 2024

TI Fluid Systems
Company typePublic limited company
IndustrieAutomotive Engineering
Gegründet2000
HauptsitzOxford, England, UK
Key people
Manfred Wennemer (Chairman)
Hans Dieltjens, (CEO and President)
ProdukteAutomotive fluid systems
RevenueIncrease €3,516.2 million (2023)[1]
Increase €195.8 million (2023)[1]
Increase €83.6 million (2023)[1]
Number of employees
25,600 (2023)[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

[edit]

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 percent of its shares.[11]

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.[12]

Structure

[edit]

The company has two divisions: fuel tank systems and fluid carrying systems (such as brakes, battery cooling and climate control).[13]

References

[edit]
  1. ^ a b c "Preliminary Results 2023" (PDF). TI Fluid Systems. Retrieved 12 March 2024.
  2. ^ "Overview". TI Fluid Systems. Retrieved 18 February 2023.
  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. ^ "Smiths Industries Agrees to Acquire TI Group in $2.48 Billion Transaction". Wall Street Journal. 19 September 200. Retrieved 16 March 2023.
  6. ^ Kim, Soyoung (26 February 2014). "Exclusive: Cooper-Standard weighs merger with TI Automotive - sources". Reuters.
  7. ^ Chapel, Lindsay (27 September 2010). "Torn Apart & Rebuilt". Automotive News.
  8. ^ "TI Automotive to be acquired by Bain for $2.4 billion, report says". Automotive News. 27 January 2016. Retrieved 29 December 2016.
  9. ^ "TI Fluid Systems revives London listing plans". Reuters. 9 October 2017.
  10. ^ Riordan, Darragh (10 October 2017). "Bain Capital takes second shot at TI Fluid Systems IPO". Real Deals. Retrieved 30 November 2017.
  11. ^ LaForest, Audrey (25 October 2017). "TI Fluid Systems takes second shot at London IPO - Plastics News". Plastics News.
  12. ^ Leggett, David (2023-09-11). "Signal: TI Fluid Systems to acquire Cascade Engineering Europe". Just Auto. Retrieved 2023-09-11.
  13. ^ "Fluid Carrying Systems | TI Fluid Systems". www.tifluidsystems.com. Retrieved 2021-04-26.
[edit]
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