Sun Capital Partners said an affiliate company has acquired TI Automotive's Industrial Group.
Terms of the acquisition were not disclosed. TI Automotive is a supplier to major automotive manufacturers and other Tier 1 suppliers.Its Industrial group includes: Bundy Refrigeration, a manufacturer of evaporators, condensers, door warmers, compressor components, defrosting coils, and heat exchangers; Walbro Engine, a maker of ignition modules, air filter assemblies, diaphragm carburetors, fuel tank assemblies, flywheels, fuel filters, and impulse fuel pumps for lawn and garden and recreational-vehicle engine applications; and Vari-Form, which produces hydro-formed automotive components, including engine cradles, radiator closures, instrument panel beams, and roof rails.
"Each of the three businesses have market leading positions, established trade names and are suppliers to major global OEM manufacturers," said Michael H. Kalb, Managing Director, Sun Capital, a private investment firm. "As independent operating entities, we believe that each business will be better positioned to leverage its market position and enhance its franchise value.''