AIC Ventures Acquires Phillips & Temro Industries, Inc. Real Estate in Eden Prairie, MN

AUSTIN, Texas--AIC Ventures acquired the 80,000 square foot corporate headquarters and manufacturing facility of Phillips & Temro Industries, Inc. in Eden Prairie, MN. Upon the sale, AIC Ventures simultaneously entered into a long-term lease with Phillips & Temro who designs and manufactures cold start and emission control products, and intake and exhaust silencing components. The company serves the automotive, heavy duty truck, construction industry and mass transit bus markets.

“AIC was able to partner with Phillips & Temro and its lenders to close a multi-party transaction. This resulted in a more efficient capital structure which meets the current and future needs of the company,” said David Steinwedell, managing partner of acquisitions, AIC Ventures. “We are very pleased to team up with the company and its owner, Morgenthaler Partners, to complete this acquisition,” he added.

AIC Ventures, an investment fund manager providing alternative finance solutions to middle-market companies across the United States through office and industrial sale leasebacks, has acquired more than 15 commercial real estate assets, representing almost two and one half million square feet of commercial real estate and totaling more than $115 million in value, in 2009 throughout the U.S.

In the last 18 months, AIC Ventures has closed nearly $230 million with its seventh fund. In each transaction, the company acquired the facility and property according to the original terms outlined. The capital infusion is used by companies for a variety of reasons including: to strengthen their corporate balance sheet fundamentals, fund growth initiatives or acquisitions and/or support other strategic investments. With fewer restrictions and requirements in comparison to more traditional financing options, sale leasebacks offer sellers flexible capital that can be redeployed at the company’s discretion.

About AIC Ventures

AIC Ventures is a leading provider of capital to middle-market companies. With nearly $1 billion in completed transactions, AIC Ventures structures innovative corporate finance solutions for companies facing limited, short-term or expensive alternatives for capital. The company has closed 113 transactions in 28 states. Whether sellers need to close quickly, have private equity interests, environmental or other challenges, AIC Ventures can help. For more information, visit www.AICVentures.com.