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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.


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Source: TendersInfo (India)


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