BETHESDA, MD — American Capital Strategies has invested $48 million in Phillips & Temro Industries Inc., a manufacturer of highly engineered cold weather starting and comfort products for the automotive and truck OEM market and aftermarket. The investment supports Morgenthaler Partners’ recent acquisition of Phillips & Temro from TMB Industries, announced earlier this month. American Capital was an existing investor in Phillips & Temro.

American Capital’s investment takes the form of a revolving credit facility, senior term loans and senior subordinated debt.

“Over the past year American Capital has had the opportunity to invest with many equity sponsors, developing new relationships and strengthening old ones,” said American Capital COO Ira Wagner. “We had a great relationship with TMB and this is our fourth transaction with Morgenthaler. We are pleased that they came to us for financial support in their acquisition of Phillips and Temro, a company that has performed well since we originally invested in it two years ago.” demand.”

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