Bundy, the TI subsidiary, has acquired S&H Fabricating & Engineering, the US powertrain specialist, for $350m (£212m).
S&H makes fluid handling systems for the automotive powertrain market.
The systems are used mainly in air-conditioning, oil cooling and power steering applications.
S&H has 12 manufacturing operations, in the US, Mexico, Canada and Germany.
Under TI’s ownership, S&H’s activities in powertrain will be extended through Bundy’s network of operations which covers 27 countries.
The new business will complement Bundy’s brake and fuel system business and will boost its global automotive market from £1.9bn to £3bn.
In a separate move, Bundy this week signed a $4m-a-year lifetime contract with General Motors to supply all fuel and brake lines to the German built Zafira multi-purpose vehicle.
When Zafira production starts in November, fuel and brake systems will be supplied from Bundy plants in Germany and Belgium.