KENNESAW, Ga., March 9 — AeriTek Global Holdings LLC (“AeriTek”), a portfolio company of Mill Point Capital LLC (“Mill Point Capital”), announced today the acquisition of Federal Industries, LLC (“Federal”) in a carve-out transaction from Standex International Corporation (NYSE: SXI). Federal is a leading U.S.-based manufacturer of refrigerated, heated and ambient food and beverage merchandising display cases serving customers across a diverse set of foodservice end markets including convenience stores, schools, specialty retail and restaurants. The acquisition of Federal represents a significant milestone for AeriTek, deepening its footprint in the U.S. foodservice market and adding domestic manufacturing capabilities.
The addition of Federal strengthens AeriTek’s position in the high-growth U.S. foodservice channel, adding an expansive network of dealer relationships and a national go-to-market infrastructure. Federal’s vertically integrated manufacturing facility in Belleville, Wisconsin provides AeriTek with strategic U.S. production capacity. The combined platform will leverage an expanded product portfolio and enhanced distribution capabilities to serve a broader range of customers across foodservice, beverage, convenience and institutional channels.
“We are thrilled to welcome Federal into the AeriTek family,” said Antony Besso, Chief Executive Officer and Executive Chairman of AeriTek. “Federal’s deep relationships with U.S. foodservice dealers and distributors, combined with its vertically integrated manufacturing facility in Wisconsin, give us both the commercial reach and domestic production capacity we need to accelerate growth in the U.S. market. This acquisition is a natural extension of our platform and we look forward to building on this momentum.”
“This transaction delivers on a core pillar of our Value Creation Plan for AeriTek by meaningfully expanding our position in the U.S. foodservice market,” added Mark Paolano, Partner at Mill Point Capital. “Furthermore, Federal’s product portfolio is highly complementary to AeriTek’s existing offerings – combining the two platforms creates a comprehensive suite of refrigeration and foodservice solutions for customers across a wide range of end markets. We are excited to work alongside management to realize the full potential of the combined business.”
“The combination of Federal’s established distributor network with AeriTek’s existing commercial infrastructure creates a compelling cross-selling opportunity across both platforms,” said Sebastian Bustamante, Principal at Mill Point Capital. “We view this acquisition as a catalyst for growth across North America.”
McDermott Will & Schulte LLP served as legal counsel to Mill Point Capital and AeriTek.
