BDA Partners is pleased to announce that EQT Opportunity (\u201cEQT\u201d), a European Private Equity group, and Fouriertransform (\u201cFourier\u201d), a state-owned Swedish Venture Capital company, have entered into an agreement to sell TitanX Engine Cooling (\u201cTitanX\u201d) to Tata AutoComp Systems Ltd (\u201cTata AutoComp\u201d), a global automotive OEM supplier. BDA was sellside advisor to EQT on this transaction.<\/p>\n
TitanX is a world leading supplier of powertrain cooling solutions for commercial vehicles. TitanX serves most of the western world\u2019s OEMs, including Volvo Trucks, Scania, Daimler and Iveco. TitanX has sales of approximately US$200m and has manufacturing plants in Sweden, USA, Mexico, Brazil, and China.<\/p>\n
\u201cWe are excited to get a new owner that has been serving the automotive industry since 1995. Tata AutoComp will take a long-term strategic view and will enable us to take the next steps in our growth strategy. With Tata AutoComp as owner, we will be working together to enhance our purchasing and operational efficiency. The acquisition gives us opportunities to further strengthen our role as a global partner of advanced cooling solutions of powertrains to our customers,\u201d says Stefan Nordstr\u00f6m, CEO of TitanX.<\/p>\n
\u201cTitanX 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.\u201d says Mr. Praveen Kadle, Chairman Tata AutoComp Systems Ltd.<\/p>\n
\u201cUnder EQT and Fourier\u2019s ownership, TitanX has developed from a carve-out of three factories, to a renowned and leading player in the global truck cooling market,\u201d says Magnus Hillestad, Director at EQT Partners and Investment Advisor to EQT Opportunity. \u201cWe are proud to sell TitanX to Tata AutoComp, a great strategic owner for the continued development and growth of TitanX.\u201d<\/p>\n
\u201cWhat distinguishes BDA\u2019s cross-border M&A platform is our deep reach into Asia, which is clearly demonstrated in the success of this assignment,\u201d commented Andrew Huntley, Senior Managing Director of BDA based in London. \u201cWe\u2019re proud to advise such high quality clients as EQT and Fouriertransform, and to have delivered a strong outcome for them.\u201d<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-156","transaction","type-transaction","status-publish","hentry"],"acf":[],"yoast_head":"\n