KENNESAW, Ga.--(BUSINESS WIRE)--Nov 4, 2024--
An affiliate of Mill Point Capital LLC ("Mill Point Capital"), a New York City-based private equity firm, announced today the completion of its previously announced acquisition of the commercial refrigeration and foodservice equipment businesses of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE: FMX) (“FEMSA”), doing business as Imbera and Torrey (collectively AeriTek Global LLC, “AeriTek” or the “Company”), in a single corporate carve-out transaction. The successful closing of this complex, cross-border corporate carve-out transaction establishes AeriTek as a standalone, leading manufacturer, designer and distributor of commercial refrigeration and foodservice equipment products. Mill Point has completed 17 corporate divestitures, reflecting the firm’s expertise and experience in executing complex transactions.
About AeriTek Global
Since its inception in 1941, AeriTek is a trailblazer in the commercial refrigeration and foodservice equipment markets, doing business under the Imbera and Torrey brands. The Company offers an expansive portfolio of highly customized products, setting itself apart through relentless product innovation and pursuit of best-in-class quality. Additionally, AeriTek is an industry leader in sustainability standards and aftermarket services. AeriTek is headquartered in Kennesaw, GA. For more information, please visit www.aeritekglobal.com.
About Mill Point Capital LLC
Mill Point Capital LLC is a private equity firm focused on control investments in lower-middle market companies across the Business Services, Industrials and IT Services sectors throughout North America. Mill Point’s experienced team of investors, Executive Partners and Functional Experts seek portfolio company value enhancement through rigorous implementation of transformative strategic initiatives and operational improvements. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com.
About FEMSA
FEMSA (NYSE: FMX) is a company that creates economic and social value through companies and institutions and strives to be the best employer and neighbor to the communities in which it operates. It participates in the retail industry through a Proximity Americas Division operating OXXO, a small-format store chain, and other related retail formats, and Proximity Europe which includes Valora, a European retail unit which operates convenience and foodvenience formats. In the retail industry it also participates through a Health Division, which includes drugstores and related activities and Digital@FEMSA, which includes Spin by OXXO and Spin Premia, among other digital financial services initiatives. In the beverage industry, it participates through Coca-Cola FEMSA, the largest franchise bottler of Coca-Cola products in the world by volume. Across its business units, FEMSA has more than 392,000 employees in 18 countries. FEMSA is a member of the Dow Jones Sustainability MILA Pacific Alliance, the FTSE4Good Emerging Index and the Mexican Stock Exchange Sustainability Index: S&P/BMV Total México ESG, among other indexes that evaluate its sustainability performance.
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CONTACT: Jiaeh Kim
212-416-5800
KEYWORD: GEORGIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: ASSET MANAGEMENT PROFESSIONAL SERVICES BUSINESS FINANCE
SOURCE: Mill Point Capital LLC
Copyright Business Wire 2024.
PUB: 11/04/2024 09:26 AM/DISC: 11/04/2024 09:26 AM
http://www.businesswire.com/news/home/20241104550880/en
