Canada’s ABC Technologies Buys UK-based TI Fluid SystemsCanada’s ABC Technologies Buys UK-based TI Fluid Systems

Toronto-based auto parts maker ABC Technologies is acquiring UK fuel and thermal systems supplier TI Fluid Systems in an offer valued at about $1.92 billion.

The takeover, expected to be completed by the first half of 2025, significantly expands ABC’s global footprint. TI operates in 27 countries serving all major automotive manufacturers.

The combined entity will have “access to a broader and more diversified range of customers, including some of the largest and most recognizable automotive OEMs and Tier 1 suppliers worldwide,” ABC said in a press release. 

“This transaction is a transformative strategic opportunity that unlocks value for all of our stakeholders and provides a platform for further growth,” said Terry Campbell, president and CEO of ABC Technologies. “A combined business will enable us to better serve our customers, and I am excited for our teammates as we continue to build a winning future. We will be persistent in seeking alignment with organizations that have proven capabilities to further ABC’s success story.”

With TI shareholders entitled to receive 200 pence per share, the company’s implied value is about £1.83 billion ($2.31 billion).

Founded in 1974 and majority owned by the affiliated funds of Apollo Global Management, ABC Technologies supplies custom, highly engineered, technical plastics and lightweight innovations to more than 25 major OEMs in eight countries.