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Cross-border ties: Ropes & Gray and Weil Gotshal act on Bain Capital’s $2.1bn TI Automotive deal

US firms Ropes & Gray and Weil Gotshal & Manges have won roles advising buyout group Bain Capital on its $2.1bn acquisition of leading fuel systems supplier TI Automotive.

Ropes & Gray advised Bain Capital in all aspects of the acquisition as the firm looks to deepen its relationship on this side of the Atlantic with the private equity company. Its team included London-based private equity partner Will Rosen alongside Boston-based private equity partners Alison Bomberg and Newcomb Stillwell, and finance partner Byung Choi. Goldman Sachs and UBS Securities served as financial advisors to Bain, while PwC is serving as accounting advisor to Bain.

Weil Gotshal represented TI Automotive, which was founded in Birmingham as Tube Investments, led by Michael Aiello out of New York alongside Peter King and Marco Compagnoni in London. Blackstone Advisory Partners served as financial advisor.

An ad hoc group of TI Automotive shareholders instructed Latham & Watkins as legal counsel, while Lazard is advising the non-executive directors of TI Automotive’s board of directors.

TI Automotive’s existing management team will continue to lead the company which produces components for the car manufacturing industry with a focus on vehicle fluid management. The signing of a definitive agreement was announced yesterday [27 January] although the financial terms were not disclosed.

The acquisition is expected to close by the middle of this year.