Technology

ABC TECHNOLOGIES ANNOUNCES RECOMMENDED OFFER TO ACQUIRE TI FLUID SYSTEMS

Published

1 year ago

November 29, 2024

Combined group would create an industry leader with an extensive global product portfolio and financial strength to support long-term growth objectives

TORONTO and LONDON, Nov. 29, 2024 /PRNewswire/ — ABC Technologies (the “Company”) today announces that it has reached an agreement on the terms of a recommended all-cash offer for the acquisition by ABC Technologies Acquisitions Limited of the entire issued and to be issued ordinary share capital of TI Fluid Systems plc (“TI Fluid Systems”).

TI Fluid Systems is a London-listed, market-leading global manufacturer of thermal and fluid system solutions for the full range of current and developing vehicle architectures. Operating across 27 countries and serving all major automotive manufacturers, TI Fluid Systems has a commitment to operational excellence and sustainability worldwide.

Together, ABC Technologies and TI Fluid Systems will enjoy an expanded global footprint and enhanced product portfolio. This will allow access to a broader and more diversified range of customers, including some of the largest and most recognizable automotive OEMs and Tier One suppliers worldwide.

“This transaction is a transformative strategic opportunity which unlocks value for all of our stakeholders and provides a platform for further growth,” said Terry Campbell, President and CEO, ABC Technologies. “A combined business will enable us to better serve our customers, and I am excited for our teammates as we continue to build a winning future. We will be persistent in seeking alignment with organizations that have proven capabilities to further ABC’s success story.”

Combining the rich heritages of ABC Technologies and TI Fluid Systems – both established leading manufacturers across different product segments – will create a business that benefits from an enhanced go-to-market proposition and greater financial strength to support the long-term growth objectives and a winning vision for the future. ABC Technologies is majority-owned by funds managed by affiliates of Apollo Global Management, Inc.

Under the terms of the transaction, shareholders of TI Fluid Systems will be entitled to receive 200 pence a share, valuing TI Fluid Systems at an enterprise value of approximately £1,831 million.

The Acquisition is currently expected to complete in H1 2025, subject to shareholder and other relevant legal and regulatory approvals.

Lazard acted as lead financial advisor to ABC Technologies; Citi, TD Securities and Scotiabank also acted as financial advisers.

Kirkland & Ellis International acted as legal advisor to ABC Technologies and Paul, Weiss, Rifkind, Wharton & Garrison acted as legal advisor in respect of regulatory and financing matters.

This press release must be read in conjunction with the Rule 2.7 announcement which is available on the London Stock Exchange RNS and along with other documents related to the transaction on www.projectgolfoffer.com.

About ABC Technologies

ABC Technologies is a leading global manufacturer and supplier of custom, highly engineered, technical plastics, and light-weight innovations to the North American light vehicle industry. Serving more than 25 major original equipment manufacturer customers in 8 countries, the Company is strategically placed to offer vertically integrated product and process solutions through a skilled workforce of over 11,000 team members. ABC Technologies is majority owned by certain of the affiliated funds of Apollo Global Management, Inc. and its subsidiaries, with funds managed by Oaktree Capital Management, L.P. owning a minority equity interest in ABC Technologies. Additional information about the Company can be found at www.abctechnologies.com.

Additional Information

This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise. Any offer (if made) will be made solely by certain offer documentation which will contain the full terms and conditions of any offer (if made), including details of how it may be accepted.

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Technology

Quote.com Announces New Senior Leadership Additions

Published

55 minutes ago

April 22, 2026

ST. PETERSBURG, Fla., April 22, 2026 /PRNewswire/ — Quote.com, a leading tech-enabled, omnichannel performance marketing organization, today announced the addition of two new executive team members to support the company’s continued growth and strategic expansion. Chase Nichols joins as Chief Marketing Officer and Ben Hochstetler as Senior Vice President of Marketing.

Quote.com announced the addition of two new executive team members, Chase Nichols and Ben Hochstetler.

The appointments strengthen Quote.com’s leadership team as the company continues to invest in execution, growth, and expanding its ability to help consumers access insurance solutions more easily and efficiently. “We are excited to welcome Chase and Ben to the Quote.com leadership team,” said Nick Stommes, Chief Executive Officer at Quote.com. “Both bring deep industry expertise, experienced execution capability, and a strong focus on operational excellence that will help accelerate our growth while improving how consumers access and compare insurance options. Their leadership will play a critical role at Quote.com as we continue scaling our platform and strengthening our partnerships.”

Chase Nichols joins Quote.com as Chief Marketing Officer; Chase is responsible for all performance marketing planning, organization, and execution, and is focused on driving efficient, measurable consumer touchpoints. With nearly two decades of experience in financial services and performance marketing environments, he brings a data-first approach to scaling growth while balancing brand development and direct-response marketing.

Ben Hochstetler joins as Senior Vice President of Marketing, leading digital marketing strategy and execution across Quote.com’s omnichannel performance marketing footprint. He brings more than 15 years of experience building and scaling performance marketing execution in highly competitive and regulated markets.

About Quote.com

Quote.com is a tech-enabled omnichannel performance marketing organization that delivers high-quality, mission-critical demand at scale to industry-leading partners. The company serves customers across multiple insurance verticals, including auto, home, life, and Medicare insurance. Quote.com provides significant value to consumers by providing an independent, third-party comparison-shopping experience.

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SOURCE Quote.com

Technology

Young Voices Across Oceans: Telling China’s Story Fiji Special Showcases GDI Achievements

Published

55 minutes ago

April 22, 2026

SHENZHEN, China, April 22, 2026 /PRNewswire/ — This year marks the 5th anniversary of the Global Development Initiative (GDI). Shenzhen Media Group’s “Telling China’s Story” program presents a special Fiji season, taking the perspective of young Chinese people to the Pacific island nation of Fiji. It documents the implementation of numerous cooperative projects which are smaller in scale but well-designed, showcasing the heartwarming stories and broad prospects of China and Fiji working together to promote common development and share the fruits of cooperation, vividly illustrating the practical achievements of the GDI.

The program will air from April 20th to 22nd, 2026. The first episode features Chinese actor Zhao Xiaotong, food blogger Yang Beichuan, and Wu Dongwei, a doctoral student at China Agricultural University, who visit the China-Fiji Juncao Technology Demonstration Center in Nadi, Fiji, to explore how this “Happiness Juncao” from China has taken root and grown in the South Pacific island nation, benefiting people’s livelihoods.

This “Happiness Juncao” has yielded “win-win results” in Fiji, bringing tangible changes to local families. Internet technology engineer Ashmir not only gained a stable income by learning Juncao (a type of grass cultivation) to grow mushrooms, but also successfully paid off his car loan.

During this filming, a “Mushroom Team” of young Chinese people joined Ashmir in a Fijian market to promote mushroom dishes and introduce locals to various new ways to enjoy mushrooms. The humble mushroom became a bond of friendship across mountains and seas, conveying the warm sentiments of mutual understanding between the Chinese and Fijian people amidst the bustling market atmosphere.

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SOURCE Shenzhen Media Group

Technology

Laminar Wins Gold 2026 Edison Award for Physical AI that Powers the Self-Driving Factory

Published

55 minutes ago

April 22, 2026

Top honor recognizes Laminar’s innovation and transformation in the CPG manufacturing industry

BOSTON, April 22, 2026 /CNW/ — Laminar, a physical AI solution helping the world’s leading manufacturers run more productive and sustainable factories, announced that it received a Gold 2026 Edison Award in the Manufacturing & Logistics category. The award recognizes Laminar for enabling food and beverage manufacturers to unlock new levels of productivity and sustainability through innovation – running faster production lines while cutting water, chemicals, and downtime.

“Laminar is leading the way CPG manufacturers implement physical AI on the factory floor with first-of-their-kind self-driving processes,” said Annie Lu, Laminar Chief Executive Officer and Co-Founder. “Our patented spectral sensors and complete library of ML models enable a new, transformative approach to closed-loop automation, making the goal of the self-driving factory achievable today. We are honored the Edison Awards recognized our commitment to building a new category of technology and reshaping the future of manufacturing.”

Laminar’s physical AI transforms operations by enabling CPG manufacturers to transition from manual, timer-based operations to self-driving. Deployed across six continents for Coca-Cola, AB InBev, Danone, and Unilever, Laminar delivers measurable sustainability and profitability gains from the same investment. Laminar’s self-driving processes include:

Self-Driving Clean-in-Place Self-Driving Product Changeover Self-Driving Batch Optimization Self-Driving Quality ControlAnd more

The Edison Awards, established in 1987 and named in honor of inventor Thomas Edison, celebrates game-changing innovation across industries worldwide. Drawing a global community of innovators across 60+ countries, the Edison Awards elevate solutions that reimagine our future.

Recognition for Laminar’s Innovation

Headquartered at Greentown Labs in Somerville, MA – North America’s leading cleantech incubator – Laminar is a woman-founded startup backed by top-tier investors, including Greycroft, Construct Capital, 2048 Ventures, and Flybridge Capital.

Recognized for its innovation and impact, Laminar received AB InBev’s 2024 Cheers Award for outstanding startup partnership and was named Unilever’s 2023 Supplier Startup of the Year. Laminar’s solution is also deployed in World Economic Forum Lighthouse factories recognized for their leadership in cutting-edge technology.

About Laminar

Laminar’s physical AI helps the world’s leading manufacturers run self-driving factories with more sustainable, efficient operations. Our patented spectral sensors and complete library of ML models transform manual operations into self-driving processes that cut water, chemicals, and downtime in real-time. Deployed in factories across six continents and trusted by global leaders like AB InBev, Coca-Cola, and Unilever, Laminar is building a new category of physical AI that will power the future of process manufacturing. Learn more at runlaminar.com

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SOURCE Laminar