TI Fluid Systems: Difference between revisions
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==History== |
==History== |
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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 acquired by [[TI Group]] plc in 1988.<ref>{{cite web|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|publisher=Management Today|accessdate=14 February 2018}}</ref> |
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 acquired by [[TI Group]] plc in 1988.<ref>{{cite web|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|publisher=Management Today|accessdate=14 February 2018}}</ref> After [[Smiths Group]] acquired TI Group in 2000, it 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> |
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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> |
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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 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" /> |
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Revision as of 14:28, 20 March 2019
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| Company type | Public limited company |
|---|---|
| LSE: TIFS | |
| Industrie | Automotive Engineering |
| Gegründet | 2000 |
| Hauptsitz | Oxford, United Kingdom |
Key people | Manfred Wennemer (Chairman) William L. Kozyra, (CEO and President) |
| Produkte | Automotive fluid systems |
| Revenue | €3,472.8 million (2018)[1] |
| €281.1 million (2018)[1] | |
| €140.1 million (2018)[1] | |
| Website | www |
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.
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.[2] It was acquired by TI Group plc in 1988.[3] After Smiths Group acquired TI Group in 2000, it divested its newly acquired automotive business in 2001 creating TI Automotive.[4]
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.[2]
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 2016, the company generated sales of $3.9 billion.[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 per cent of its shares.[9]
Structure
The company has two divisions: fuel tank systems, and fuel tank and delivery systems.[11]
References
- ^ a b c "Preliminary Results 2018" (PDF). TI Fluid Systems. Retrieved 20 March 2019.
- ^ a b "TI Fluid Systems looks to raise €600m through London IPO". Financial Times. Retrieved 2018-02-14.
- ^ "UK: Why TI Group went west". Management Today. 1 April 1996. Retrieved 14 February 2018.
- ^ TI Group plans to sell off auto suppliers[dead link]
- ^ "Exclusive: Cooper-Standard weighs merger with TI Automotive - sources". Reuters.
{{cite news}}: Cite has empty unknown parameter:|dead-url=(help) - ^ Torn Apart & Rebuilt
- ^ "TI Automotive to be acquired by Bain for $2.4 billion, report says". Auto News. 27 January 2016. Retrieved 29 December 2016.
- ^ "TI Fluid Systems revives London listing plans". Reuters.
{{cite news}}: Cite has empty unknown parameter:|dead-url=(help) - ^ a b LaForest, Audrey. "TI Fluid Systems takes second shot at London IPO - Plastics News". Plastics News. Retrieved 2018-02-14.
- ^ "Bain Capital takes second shot at TI Fluid Systems IPO". Real Deals. 10 October 2017. Retrieved 30 November 2017.
- ^ "Fluid Carrying Systems | TI Automotive". www.tiautomotive.com. Retrieved 2018-02-14.