Chicago investment firm acquires Phillips & Temro

| Wednesday, February 26, 2003

TMB Industries, a private equity firm based in Chicago, has acquired Phillips & Temro Industries Inc. from The Budd Co., a unit of Thyssen Krupp.

Phillips & Temro Industries, which has its headquarters in Eden Prairie, MN, manufacturers cold weather starting products and process silencer products in Prior Lake, MN, Winnipeg, Manitoba, and Eden Prairie. Its OEM customers include Ford, General Motors, International, Cummins, Caterpillar, Kohler, PACCAR, Freightliner, John Deere, Katolight and Volvo/Mack.

The principals of TMB Industries also own and operate Transportation Technologies Industries, a supplier of Gunite wheel-end components and assemblies, Bostrom seating, Imperial body and chassis components and subassemblies, Brillion complex iron castings, Fabco on/off road steerable drive axles and gear boxes, and Fuel Systems fuel tanks and related components. TMB also owns and operates Metalforming Technologies Inc., a supplier of stamping to the automotive industry.