Posted by admin on October 17th, 2013
October 16, 2013
Eden Prairie — Phillips & Temro Industries (PTI) announced today that it has acquired Arctic Fox from North River Capital, LLC, a private equity firm in Fort Wayne, IN. The acquisition of Arctic Fox expands PTI’s presence into fuel and hydraulic systems and the oil & gas and power sports end markets and provides a worldwide platform for growth. Phillips and Temro’s President and Chief Executive Officer, Butch Sumpter said “This acquisition is an outstanding development for PTI and our employees. Arctic Fox is a leading supplier of heating products, heating systems and contract manufacturing for the heavy duty truck, energy and off-road markets. We look forward to working with the Arctic Fox team to create further value for our customers, suppliers and employees.”
About Phillips and Temro Industries
Phillips and Temro Industries, headquartered in Eden Prairie, Minnesota, is a leading global supplier of engineered heating products, systems and controls as well as cooling, and silencing products. With facilities in the United States, Canada, Europe, and China, the company serves the heavy duty truck, off-highway, power generation, automotive, and electric/hybrid vehicle end markets.
Headquartered in Delano, Minnesota, Arctic Fox is the leading supplier of fuel and fluid heating products and systems. It designs and manufactures fuel and hydraulic fluid heating products and systems in the oil and gas, heavy duty truck, off-highway equipment, power sports, and other industrial markets.
Mike Ramsay, CFO