Auburn Hills, Mich.-based auto supplier TI Automotive Ltd. announced Tuesday that its sale to private equity firm Bain Capital LLC has been completed.
Terms of the sale were not disclosed.
TI generated roughly $3 billion in revenue in 2014 and employs 24,000 at 130 locations making blow molded fuel tanks and additional fuel system pipes, tubes and components.
Bill Kozyra will continue in his current roles as TI Automotive's president, CEO and chairman.
The company 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.