Phillips & Temro Industries Inc. has expanded into the oil and gas market now that the deal for Arctic Fox LLC has closed.
Delano, Minn.-based Arctic Fox, sold for an undisclosed price, supplies fuel and fluid heating products to the oil and gas market. Its reach also includes heavy-duty trucks, off-highway equipment and power sports.
The buyer, headquartered in Eden Prairie, Minn., supplies engineered heating products, systems and controls, as well as cooling and silencing products. Phillips & Temro’s products are used by the automotive industry, namely within light- and heavy-duty trucks, as well as off-highway vehicles. The company is backed by private equity firm Audax Group, which has offices in Boston and New York. Besides private equity, the firm also supplies senior and mezzanine debt. In August, the company bought Bomar Interconnect Products.