An Affiliate of Sun Capital Partners, Inc. Acquires Industrial Group from TI Automotive
BOCA RATON, Fla.--Sun Capital Partners, Inc.:
Industrial Group consists of three businesses:
- Bundy Refrigeration’s products include evaporators, condensers, door warmers, compressor components, defrosting coils, and heat exchangers.
- Walbro Engine Management’s portfolio includes 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.
- Vari-Form produces hydro-formed automotive components, including engine cradles, radiator closures, instrument panel beams, and roof rails.
Sun Capital Partners, Inc. (“Sun Capital”), a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies, today announced that one of its affiliates has acquired the Industrial Group from TI Automotive, a leading Tier 1 supplier to major automotive manufacturers and other Tier 1 suppliers. Terms of the acquisition were not disclosed.
Bundy Refrigeration is the European and Latin American market leader in the manufacturing of condensers, evaporators and other cooling system components used in household and commercial refrigeration appliances.
Established over fifty years ago, Walbro Engine Management is a technology leader providing a wide range of components and systems to the outdoor power equipment, industrial, marine, recreational and two-wheel vehicle markets, with engineering facilities in the United States, Mexico, Italy, China, Thailand, and Japan.
Vari-Form's patented tube hydroforming technology is used to create complex shapes in tubular components - that provide an exciting alternative to closed section stamped assemblies or existing tubular applications. Using this highly precise procedure, Vari-Form currently hydroforms over four million automotive structural parts annually for its partners worldwide.
Michael H. Kalb, Managing Director, Sun Capital Partners, Inc., added, “Each of the three business units, Bundy Refrigeration, Walbro Engine Management, and Vari-Form, enjoy competitive advantages in their respective industries, which have not been fully realized due to the non-core nature of their operations under their former corporate umbrella. Each of the three businesses have market leading positions, established trade names and are suppliers to major global OEM manufacturers. As independent operating entities, we believe that each business will be better positioned to leverage its market position and enhance its franchise value.”
About TI Automotive
TI Automotive is the world’s leading supplier of fluid storage, transfer and delivery systems, including brake, fuel and air conditioning applications. With headquarter locations in Warren, Michigan and Oxford, England, the company employs more than 16,000 people at more than 110 facilities in 28 countries on six continents. Further information is available on the Internet at www.tiautomotive.com.
About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in market-leading companies that can benefit from its in-house operating professionals and experience. Sun Capital affiliates have invested in and managed more than 145 companies worldwide with combined sales in excess of $33.0 billion since Sun Capital’s inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates with offices in London, Tokyo, and Shenzhen. For more information, please visit www.SunCapPart.com.