“TI Automotive is a market-leading company that serves its customers’ needs extraordinarily well, through a combination of innovative engineering, extensive experience and a very strong commitment to quality,” said Todd Cook, a managing director at Bain Capital. “We look forward to partnering with Bill and the TI management team to support them in their next phase of growth.”
The transaction has committed financing in place and is not subject to a financing condition. The deal is subject to approval from TI Automotive shareholders, a substantial majority of whom have pledged to support the deal. Closing is expected in mid-2015, pending regulatory review and other customary closing conditions.