AeriTek Global Holdings LLC, a portfolio company of Mill Point Capital LLC and a leading manufacturer in the commercial refrigeration and foodservice equipment markets, has successfully completed the acquisition of the foodservice refrigeration and HVAC assets of National Refrigeration & Air Conditioning Products, Inc. The acquired business operates under the Continental Refrigerator and National Comfort Products (NCP) brands, and the transaction further expands AeriTek's presence in the U.S. foodservice equipment market, positioning the company as a leading commercial foodservice refrigeration manufacturer.
Founded in 1989 and headquartered in Bensalem, Pennsylvania, Continental and NCP are two primary brands of National Refrigeration & Air Conditioning Products, Inc., and together they have built a distinguished reputation for high-quality, configurable products and build-to-order flexibility, serving more than 850 customers across the United States. Continental designs and manufactures commercial foodservice refrigeration solutions, including reach-in coolers and freezers, sandwich prep worktops, pizza prep units, griddle stands, and bar equipment for a diverse base of dealers and end customers across the foodservice industry. NCP designs and manufactures thru-the-wall HVAC systems for multi-family residential applications, offering both packaged and split system configurations.
With this acquisition, AeriTek is expanding its product portfolio and extending its reach across the foodservice equipment landscape. Continental's commercial kitchen equipment is highly complementary to AeriTek's existing "front of the house" beverage merchandising and display offerings, positioning the combined business to deliver a comprehensive suite of equipment solutions spanning the full foodservice environment. Continental's long-standing dealer relationships and buying group partnerships further strengthen AeriTek's go-to-market infrastructure and accelerate its penetration of the U.S. foodservice channel, while NCP's thru-the-wall packaged and split HVAC systems extend the platform's reach into adjacent commercial end markets characterized by durable, replacement-driven demand. Speaking about the impact of the acquisition, Antony Besso, Chief Executive Officer and Executive Chairman of AeriTek, stated:
"Adding Continental Refrigerator and National Comfort Products is a defining step for AeriTek's Value Creation Plan. These are brands that dealers and end customers have relied on for over three decades. Their reputation for quality, extensive customization capabilities and a highly experienced management team make this combination an optimal fit for our platform."
This transaction marks AeriTek's third North American acquisition in less than eight months, underscoring continued momentum in executing the company's strategic growth plan under Mill Point Capital's ownership. Reflecting on the strategic significance of the deal, Mark Paolano, Partner at Mill Point Capital, remarked:
"This acquisition is exactly the type of transaction we envisioned when we first invested in AeriTek. With Continental's stainless steel kitchen equipment alongside the existing beverage merchandising and display capabilities, AeriTek now offers products that span the full foodservice environment, from front-of-house merchandising to back-of-house kitchen refrigeration and food processing products. That breadth is unique in our industry and gives customers a single partner for their full equipment needs."
Sebastian Bustamante, Principal at Mill Point Capital, also commented on the broader transformation of the platform:
"Over the past year, AeriTek has completed three acquisitions that have fundamentally reshaped the business. With multiple U.S. manufacturing facilities and deeply entrenched relationships across the largest dealers and buying groups in the foodservice channel, the Company has built meaningful domestic scale."
Since its inception in 1941, AeriTek has been a trailblazer in the commercial refrigeration and foodservice equipment markets, doing business as Imbera, Torrey, QBD, Minus Forty, and Federal. Headquartered in Kennesaw, Georgia, AeriTek offers an expansive portfolio of highly customized products, setting itself apart through relentless product innovation and delivering best-in-class quality. The company is also an industry leader in sustainability standards and aftermarket services.
McDermott Will & Schulte LLP served as legal counsel to Mill Point Capital and AeriTek. Woodward Park Partners, LLC served as financial advisor to National Refrigeration & Air Conditioning Products, Inc., with Morgan, Lewis & Bockius LLP providing legal counsel.
The acquisition of Continental Refrigerator and National Comfort Products underscores AeriTek's commitment to strategic growth and its efforts to strengthen its position as a leading manufacturer in the U.S. commercial foodservice refrigeration industry.
