Daily News: March 30, 2015

GE Antares Finances Harbour’s Buy

GE Antares served as administrative agent on a senior facility to support the acquisition of Phillips and Temro Industries by Harbour Group. GE Capital served as joint lead arranger and joint bookrunner on this transaction.

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 – benefiting 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.”

Phillips and Temro Industries (PTI) is a global OEM and aftermarket provider of custom engineered thermal systems and solutions.

Harbour Group is a privately owned operations focused company based in St. Louis, Mo.

Minneapolis-PTI headquartered is a global manufacturer and supplier of thermal management systems and controls, primarily for diesel and gasoline engine platforms.