Harbour Group Acquires Phillips & Temro Industries
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Harbour Group Acquires Phillips & Temro Industries

phillips nf3Harbour Group has acquired Phillips & Temro Industries from Audax Group which first invested in the company in February 2012.

Phillips & Temro Industries (PTI) is a manufacturer of heating, cooling, and silencing products for diesel, gasoline, hybrid, and electric vehicle engines. The company has facilities in the United States, Canada, the United Kingdom, and China, and serves the heavy-duty truck, light-duty truck, power generation, off-road, automotive, and electric/hybrid vehicle end markets. Phillips & Temro was founded in 1920 and has a total of five manufacturing facilities. The company is headquartered near Minneapolis in Eden Prairie, MN (www.phillipsandtemro.com).

jeff fox nf2“PTI’s highly-engineered products and powerful brands fit extremely well with our experience in the engineered products sector,” said Jeff Fox, Harbour Group’s chairman and chief executive officer.  “We are very impressed by the team at PTI and are eager to support them with our operational resources to help achieve their many growth opportunities. As we have done for nearly 40 years, we intend to invest heavily in new product development, customer service initiatives, and complementary acquisitions.”

Harbour Group and its companies are engaged in manufacturing and distribution in multiple industries, including flow and energy measurement, boiler systems, professional diagnostic and repair tools, specialty LED systems, niche distribution, logistics services, decorative kitchen and bath hardware, abrasives, diamond-cutting products and related tools, entertainment and music products, and auxiliary plastic processing equipment.  Since its founding in 1976, Harbour Group has acquired 180 companies in 38 different industries. The firm is based in St. Louis (www.harbourgroup.com).

© 2015 PEPD • Private Equity’s Leading News Magazine • 3-17-15

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