New Owner Adds Silencer Assets To Miratech
Low-temp particulate filter gets key approval
Audax Private Equity has acquired Miratech Corp. and augmented it with the silencing business of another company it owns, Phillips & Temro Industries (PTI).
Audax, which holds more than US$5 billion in assets in lower-middle market companies, renamed the Tulsa, Oklahoma-based firm as Miratech Group LLC.
With the addition of PTI Silencing, Miratech will operate three facilities. It has a 29,000 sq.ft. (2700 m2 ) facility in Tulsa which includes an innovation center focused on new product development. PTI Silencing has a 54,000 sq.ft. (5000 m2 ) manufacturing plant at Prior Lake, Minnesota, for its EM products, and a 17,000 sq.ft. (1600 m2 ) plant at Winnipeg, Alberta, Canada, for its Cowl products.