News Column

United States : PHILLIPS & Temro takes on Idle Free Systems Inc

July 15, 2014

A Madison firm, Idle Free Systems Inc., announced that it has been taken over by Phillips & Temro Industries, a provider of engineered thermal systems and controls, is a portfolio company of Audax Group, a Boston private equity firm that purchased it in 2012.

In 2003, Idle Free established by former trucker Robert Jordan, sells an auxiliary power unit that takes electricity generated while a truck is moving and stores it in batteries for later use.

In 2012, the firm increased the size of its Watertown factory to 10,000 square feet.

Phillips & Temro's "engineering and technical resources, as well as the global reach, will enable us to continue to grow the company," said Robert Hopton, Idle Free's chief executive.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: TendersInfo (India)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters