19/12/2024
We’re delighted to have helped with the £1.039bn recommended takeover offer for UK-based TI Fluid Systems, the global supplier of thermal solutions and fluid systems for vehicle manufacturers, by Canada's ABC Technologies, which is backed by Apollo Global Management. The acquisition implies an enterprise value of approximately £1.83 billion.
Tim Cobbold, chair of TI Fluid Systems, said the tie-up will result in a “larger, more diversified business with a broader range of products and customers”. He added that the board “believes that the offer represents an attractive premium and provides shareholders with the certainty of a cash consideration that reflects TI Fluid Systems’ fundamental strengths and opportunities, while also acknowledging the wider industry uncertainties.”
Our thanks to our wonderful clients at Latham & Watkins, Peel Hunt and Goldman Sachs.
To find our more about how we can ensure the success of your most prestigious M&A deals, chat with us today: hello@blackandcallow.com
