TI Automotive Buys Indiana Powertrain Supplier

TI Automotive LLC has acquired Millennium Industries Corp., a Ligonier, Ind.-based powertrain component supplier, for an undisclosed price.

Auburn Hills-based TI Automotive, which was acquired last summer by private equity firm Bain Capital LLC, expects the deal to bolster its current portfolio of fuel lines and turbocharger cooling lines. Millennium makes fuel rails and power-steering reservoirs for the North American automotive industry.

TI plans to retain Millennium’s 500 employees and 150,000-sq-ft manufacturing plant in Indiana. Gary Vollmar, Millennium’s president, will serve as an executive adviser to TI’s global powertrain group.