Miratech Acquired, Gets Silencer Assets
Phillips & Temro Industries units added to portfolio
Audax Private Equity has acquired Miratech Corp. and augmented it with the silencing business of another company it owns, Phillips & Temro Industries (PTI).
Tulsa, Oklahoma-based Miratech was renamed Miratech Group LLC. Audax has more than US$5 billion in assets in lower-middle market companies.
With the PTI Silencing addition, 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, Canada, for its Cowl products.
“Combining these teams gives Miratech strong expertise in both technology and manufacturing,” said President and CEO Kevin O’Sullivan. “Our goal is to be a leading manufacturer and provider of emission and noise attenuation solutions within the North American large format industrial engine market.”
Geoffrey Rehnert, Co-ECO of Audax, said “The combination of Miratech and PTI’s silencing division allows the combined business to offer a full spectrum of emissions and noise control solutions. We are looking forward to backing Kevin O’Sullivan and his team as they grow the business organically and through strategic add-on acquisitions.”
Miratech offers customers catalysts, housings, silencers, monitoring systems and related services that address and reduce engine exhaust pollutants such as NOx, CO, VOC, diesel particulate, HAPs, and noise. Its engineering team provides customers technical customized solutions to their emission control requirements and installation configuration challenges.
The PTI Silencing Division designs and makes silencers and exhaust system components for an array of industrial engine applications through its EM and Cowl brands. It serves manufacturers and distributors in various markets including power generation, off-highway, industrial mobile equipment, commercial marine and gas compression.