Sector: Industrial Technology
Country: Sweden
Entry: May 2008
Exit: Dec 2016

TitanX is a world leading supplier of powertrain cooling solutions for commercial vehicles and the company serves most of the western world’s OEMs, including Volvo, Scania, Daimler and Iveco. TitanX has manufacturing plants in Sweden, USA, Mexico, Brazil and China.

EQT Opportunity acquired TitanX in 2008 in a carve-out from the French automotive supplier, Valeo.

Throughout its ownership, EQT Opportunity supported management in setting up TitanX as a separate company, expanding the organization and the global footprint, as well as driving the growth strategy of the company, both on the OEM and the aftermarket side of the business. 

In 2013, Fouriertransform AB, an investment company controlled by the Swedish government, partnered with EQT Opportunity and became a minority investor in TitanX.

Together, EQT and Fouriertransform continued the development of TitanX and at the time of exit in 2016, TitanX had secured contracts with Volvo Trucks, Scania and Daimler Trucks and had become a leading player in the wester heavy Duty truck cooling space.

In 2016, EQT Opportunity and Fouriertransform sold TitanX to TATA Autocomp Systems Limited, a leading Indian auto-component conglomerate and a subsidiary of the Indian TATA Sons.

 To TitanX

Key events during EQT investment

  • Transformed three factories into one company with centralized business functions (sales, marketing, R&D), uniform operating procedures, and centralized support functions
  • Strengthened the management team and the board of directors with relevant experience
  • Secured the survival of the company through the financial crisis, continuing customer development and investment in R&D
  • Expanded the production footprint with new factories in Brazil, China and Mexico
  • Significant contract wins expanding and cementing the contract portfolio (Navistar, Daimler North America, Volvo and Scania), making the company to become the leading player in the wester heavy duty truck cooling industry
  • Significant expansion in the aftermarket, including assembly facility in Poland