AeriTek Global Holdings, a portfolio company of private equity firm Mill Point Capital, has acquired Minus Forty QBD (operating as Due North), a Canadian-based manufacturer of commercial refrigeration solutions.

The deal combines AeriTek’s existing operations with Due North’s brands – QBD and Minus Forty – to create a larger platform serving customers across the US, Canada and international markets. The combined company will offer a broader portfolio of refrigeration equipment for beverage, foodservice, convenience store and micro-market sectors, supported by an expanded North American distribution network.

Antony Besso, executive chairman of AeriTek, said: "We are extremely excited to welcome Due North into the AeriTek family. Their rich history of innovation, robust customer base and differentiated design capabilities perfectly complement our own. This combination gives us a significantly larger presence in the US market and the scale and expertise to execute our Value Creation Plan and unlock meaningful growth opportunities.”

Mark Paolano, partner at Mill Point Capital, added: “Due North’s strong foothold in high-growth markets in North America and its reputation for quality and reliability make it an ideal partner for AeriTek. We look forward to partnering with Troy Shannan and the rest of the management team to build on this momentum and deliver enhanced value to customers across the combined platform.”

Terms of the transaction were not disclosed.

Top image: © Due North