Phillips & Temro Industries (PTI) announced Tuesday it has signed a definitive agreement to acquire Carlor Engineering, a Belgian manufacturer of coolant heaters used in power generation and heavy-diesel engine applications.
The company says the transaction is expected to close in January 2018, and is subject to customary closing conditions, including regulatory approvals. According to PTI, the acquisition of Carlor increases the breadth of PTI’s engine heating product offering, establishes a PTI presence on mainland Europe, and reinforces PTI as the global leader of custom engineered thermal systems and solutions in a variety of markets.
“This acquisition is consistent with our vision of becoming a global market leader through innovation, diversification of end markets and customer focus while building a culture of continuous improvement,” says Tom Moser, president and CEO at Phillip & Temro Industries. “Carlor has an excellent reputation in the power generation heating market, and we are delighted to be bringing the strengths of our two organizations together to better serve our global customers.”
“Over the past 17 years we have been focused on designing and manufacturing preheating systems,” adds Fabian Klaurens, CEO at Carlor. Looking ahead, a future with Phillips & Temro means we can maintain what we value while accelerating growth in a way that we couldn’t do alone, reaching more customers while increasing our impact on the markets we serve.”