OREANDA-NEWS. GE Antares, a unit of GE Capital, announced today it is serving as administrative agent on a senior secured credit facility to support the acquisition of Phillips and Temro Industries (PTI) by Harbour Group. GE Capital Markets served as joint lead arranger and joint bookrunner on this facility.

PTI, headquartered in Minneapolis, MN, is a global manufacturer and supplier of thermal management systems and controls, primarily for diesel and gasoline engine platforms. The company sells highly engineered components built to unique application specifications.
 

Butch Sumpter, president & CEO of PTI, commented, “We’re thrilled to embark on the next chapter in PTI’s history with Harbour Group and GE.  The exceptional operational knowledge that Harbour Group brings to bear in conjunction with the resources from GE will have a very positive impact on our growth story - benefitting both our employees and our customers.”  

“GE Antares’ familiarity with PTI and the markets the company serves made them an excellent financing choice on this transaction,” said Jeff Fox, CEO at Harbour Group. “Consistent with our past experiences, GE Antares continues to provide exceptional service and a truly collaborative, flexible approach.”

“Since the start of our relationship in 2011, PTI has realized impressive growth while retaining the exceptional product quality that they’re known for,” said Katie Hockman, managing director of GE Antares. "We are thrilled to partner with Harbour on this acquisition and look forward to continuing to support management and Harbour in this next chapter.”