Phillips and Temro Industries, Inc. (PTI), a global OEM and aftermarket provider of custom engineered thermal systems and solutions for trucking, automotive, oil and gas, off-road and EV/hybrid vehicles, announes its acquisition by Harbour Group, a privately owned operating company based in St. Louis. Financials were not released.
In its 95-year history, PTI invested heavily in accelerated growth focusing on organic, technology and acquisition activities that has led to its current position as the leading global supplier of heating and cooling technologies. Founded in 1976, Harbour Group is a company with demonstrated successes in acquiring and building more than 180 high-quality companies in 38 industries.
Harbour Group recognized PTI as a product-oriented, value-added organization with clear and sustainable competitive advantages. With this acquisition, PTI will have the advantage of Harbour Group’s operational focus, resources and team of experts who will work with PTI to realize identified objectives and take the company to the next level of growth, the company says.
“PTI’s highly-engineered products and powerful brands fit extremely well with our experience in the engineered products sector,” says Jeff Fox, Harbour Group’s chairman and CEO. “We are very impressed by the team at PTI and are eager to support them with our operational resources to seize the many growth opportunities that lay before the company. As we have done for nearly 40 years, we intend to invest heavily in new product development, customer service initiatives, and complementary acquisitions to continue PTI’s success.”
“This acquisition by Harbour Group marks an incredible milestone for PTI. This is an exceptional opportunity to combine Harbour’s extensive experience and highly knowledgeable team of operational experts with our experienced team committed to delivering even higher successes for our employees and customers,” adds Butch Sumpter, president and CEO at PTI.