Phillips & Temro Industries, a portfolio company of Audax Private Equity, has closed its buy of Idle Free. No financial terms were disclosed. Headquartered in Madison, Wisconsin, Idle Free is a provider of idle elimination solutions for trucks and buses.
EDEN PRAIRIE, Minn.–(BUSINESS WIRE)–Phillips & Temro Industries (“PTI”), a portfolio company of Audax Private Equity, announced today that it has completed the acquisition of Idle Free Systems, Inc (“Idle Free”). Headquartered in Madison, Wisconsin, Idle Free provides idle elimination auxiliary power unit (APU) solutions for over-the-road, day cab, and work truck markets. The acquisition of Idle Free Systems expands PTI’s presence in both the thermal systems and driver comfort market segments.
Butch Sumpter, CEO of PTI, said, “This acquisition is an outstanding fit for PTI. Idle Free Systems is a highly innovative provider of complete, year-round idle elimination solutions for heavy duty and work trucks. We look forward to working with the Idle Free Systems team to create further value for our customers.”
Robert Hopton, CEO of Idle Free Systems, said, “This is an exciting development for our employees and customers. PTI’s engineering and technical resources as well as its global reach will enable us to continue to grow the company. I look forward to working with Butch Sumpter and the broader PTI team.”
About Phillips & Temro Industries
Phillips & Temro Industries, headquartered in Eden Prairie, Minnesota, is a leading global supplier of engineered thermal solutions, systems and controls. With facilities in North America, Europe, and Asia, the company serves the heavy duty truck, off-highway, oil & gas, power generation, automotive, and electric/hybrid vehicle end markets.
About Idle Free Systems
Headquartered in Madison, WI, Idle Free Systems is an innovative provider of complete idle elimination solutions for trucks and buses. The Idle Free electric APU offers drivers and fleet operators a flexible, cost-effective alternative to discretionary idling without compromising performance, cost savings or driver comfort while reducing emissions for a cleaner environment.
All Idle Free APUs are manufactured in the United States. Idle Free Systems web site: http://idlefreesystems.com/
Take your pick!
- Buyouts delivers exclusive news and analysis about private equity deals, fundraising, top-quartile managers and more. Get your FREE trial or subscribe now.
- VC Journal provides exclusive news and analysis about venture capital deals, fundraising, top-quartile investors and more. Get your FREE trial or subscribe now.