American private equity firm Bain Capital Partners recently attempted to seize control of British manufacturer TI Automotive. It was their third time doing so.
The firm is working on a £1.2bn takeover of the company which produces part of cars including fuel tanks and brakes. Ti Automotive started 96 years ago as Tube Investment in Birmingham, and is now located in Michigan.
Bain was one of three private equity firms to bid for the business (the other bidders were Carlyle and Pamplona Capital).
Bain has around $70bn of assets.
Neither Bain nor TI Automotive could be reached for comment.