Bain Capital completes buyout of TI Automotive

Terms of the sale were not disclosed in a statement today.

TI, based north of Detroit in Auburn Hills, Mich., generated roughly $3 billion in revenue in 2014 and employs 24,000 people at 130 locations.

Bill Kozyra will continue in his current roles as TI Automotive’s president, CEO and chairman.

The supplier of automotive fuel systems announced in January that it had agreed to be bought by Bain. That announcement followed months of speculation over a deal.

Bloomberg News, using unnamed sources, reported at that time that the deal was valued at $2.4 billion.