Phillips & Temro Industries (PTI) announced that it has acquired Arctic Fox from North River Capital, LLC, a private equity firm in Fort Wayne, Ind.
The acquisition of Arctic Fox expands PTI’s presence into fuel and hydraulic systems and the oil and gas and power sports end markets and provides a worldwide platform for growth.
Phillips & 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.”