Tata AutoComp Systems has decided to acquire TitanX – a leading global engine cooling supplier. The transaction is expected to be completed by 2016-end subject to customary regulatory approvals, Tata AutoComp Systems said.
TitanX is a leading engine and powertrain cooling solutions supplier to the commercial vehicle industry having plants across North America, South America, Europe and China with sales of approximately $200 million. It is currently owned by EQT Opportunity and Fouriertransform.
“TitanX represents state-of-the-art powertrain cooling solutions with a global presence that fits perfectly into our future growth areas. We are confident that under the successful and experienced management in TitanX, it will be a great asset and will contribute to the growth of Tata AutoComp,” Tata AutoComp Systems chairman Praveen Kadle said.
“TitanX has the latest technology in engine cooling solutions for commercial vehicles,” Tata Autocomp Systems MD and CEO Ajay Tandon said.
Tata AutoComp was advised by Tata Capital Investment Banking while the sellers were advised by BDA Partners, Tata AutoComp Systems added.
Published 16 August 2016, 19:05 IST