Bain Capital has agreed to acquire FTE Automotive, a German clutch systems manufacturer, from European PE firm PAI Partners. The acquisition is expected to close in July. Headquartered in Ebern, Germany, with manufacturing plants in six countries, FTE makes hydraulic clutch actuation systems for passenger cars and commercial vehicles. The company reported €430 million ($556.2 million) in sales in 2012. It has been a PAI portfolio investment since 2005.