MIRATECH and Phillips & Temro Industries’ silencing business (“PTI Silencing”) are forming a new company, MIRATECH Group, LLC. Audax Private Equity is forming the company through Audax’ investment in Phillips & Temro Industries (“PTI”) by spinning-off PTI’s silencing business and simultaneously acquiring MIRATECH to form MIRATECH Group. The company will be headquartered in Tulsa, Oklahoma and will continue to do business in the PTI Silencing facilities in Minnesota and Winnipeg.
“Combining these teams gives MIRATECH strong expertise in both technology and manufacturing,” said President and Chief Executive Officer 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. In addition, we are pleased to be working with Audax Private Equity to build the business through organic growth and acquisitions.”
With the PTI Silencing combination, MIRATECH now operates three facilities throughout North America. MIRATECH’s headquarters in Tulsa, Oklahoma is a state of the art 29,000 square-foot facility which includes an innovation center focused on new product development. PTI Silencing operates two manufacturing facilities, including a 54,000 square-foot location in Prior Lake, MN for its EM Products, and a 17,000 square-foot facility in Winnipeg, Canada for its Cowl Products.
“This larger platform gives MIRATECH a distinct competitive position with the resources to innovate, develop and grow in the global industrial engine space,” O’Sullivan said.
MIRATECH now offers a full suite of emission and acoustic solutions for industrial engines including catalysts, housings, silencers, control and monitoring systems and other related services. Additionally, the company provides highly engineered, custom system solutions for piping, platforms, general contracting and technical field services.
The company’s combined management team is comprised of industry veterans with strong engineering, technical and operational backgrounds with decades of relevant experience. Key members are listed below.
Kevin O’Sullivan, President and Chief Executive Officer
Kevin lives in Tulsa, Oklahoma and is the President and CEO of MIRATECH, where he has worked for 16 years. With 30 years of industry experience, Kevin previously worked at Phillips Petroleum, Dresser-Rand, and Diagnetics. He earned his B.S. in Mechanical Engineering from the University of Missouri-Rolla.
Bill Clary, Chief Technology Officer
Bill has been with MIRATECH for 21 years and is the company’s CTO. He helped found MIRATECH and has 27 years of industry experience. He earned a B.A. in Chemistry from Carleton College, and a MSME from the University of Minnesota.
David Zenthoefer, Executive Vice President of Sales
David is EVP of Sales and has 8 years of service with MIRATECH. He previously worked for Hilti where he served as Director of Sales for the West Coast. David earned both a B.S. in Marketing and an MBA from the University of Tulsa.
Tom Meline, Vice President of Production
Tom is the VP and GM of PTI Silencing where he has worked for 17 years. Tom has 20 years of industry experience. He earned his B.S. in Manufacturing Engineering from Minnesota State University, Mankato, and an MBA from the University of Minnesota.
John Sartain, Vice President, Engineering
John is the VP of Engineering and has 15 years of service with MIRATECH. John has a B.S. in Mechanical Engineering from the University of Tulsa.
ABOUT AUDAX GROUP
Audax Group, founded in 1999, is a leading investor in lower-middle market companies. With offices in Boston, Menlo Park, and New York, Audax has over $5 billion in assets under management in its Private Equity, Mezzanine, and Senior Debt businesses. For more information visit the Audax Group website www.audaxgroup.com.
About the Former PTI Silencing Division
Now part of MIRATECH, the Phillips & Temro Industries Silencer Division designs and manufactures silencers and exhaust system components for a multitude of industrial engine applications through two distinct brands of silencing products: EM Products® and Cowl®. The company serves leading manufacturers and distributors in various markets including power generation, off-highway, industrial mobile equipment, commercial marine and energy infrastructure.
About MIRATECH
Founded in 1992 and headquartered in Tulsa, Oklahoma, MIRATECH is a leading provider of cost-effective, reliable and mission critical emissions solutions for industrial engines. The company’s product suite includes emission and acoustic engineered solutions such as catalysts, housings, silencers, control and monitoring systems and other related services. MIRATECH specializes in high specification solutions sold primarily to engine packagers, engine dealers, engineer procure and construct (EPC) contractors and end users.
