AeriTek Global Holdings, parent of Imbera and Torrey, has acquired Due North, the manufacturer behind QBD and Minus Forty refrigerated merchandisers. The move creates “a global refrigeration platform” with a strong presence in North America, serving beverage, foodservice, convenience and micro market channels.
For operators, the deal pairs Due North’s portfolio of compact, energy-efficient coolers and freezers widely used in unattended retail with AeriTek’s foodservice equipment lineup. The combined company says it will deliver expanded distribution, enhanced service and product innovation to meet growing demand for grab-and-go merchandising.
“Due North’s strong foothold in high growth markets and reputation for quality make it an ideal partner,” said Mark Paolano, partner at Mill Point Capital, the private equity firm that owns AeriTek, in a release. AeriTek’s leadership team will work with Due North’s Troy Shannan and management team to pursue growth opportunities and “deliver enhanced value to customers across the combined platform,” Paolano added.
With demand for reliable refrigeration continuing to climb in micro markets and convenience locations, the acquisition signals increased investment and scale in the equipment sector serving convenience services operators.
