Mill Point Capital LLC, a middle-market private equity firm focused on control investments in the Business Services, Industrials and IT Services sectors throughout North America, announced the completion of a sale-leaseback transaction in connection with its portfolio company, AeriTek Global Holdings LLC (“AeriTek” or “The Company”), a leading manufacturer of commercial refrigeration and foodservice equipment based in Kennesaw, GA.
Mill Point Capital, on behalf of AeriTek, executed the sale-leaseback of AeriTek’s primary manufacturing facilities in San Juan Del Rio, Mexico and Monterrey, Mexico. AeriTek anticipates a distribution of proceeds to its shareholders, representing a significant return of capital less than ten months after Mill Point’s initial investment.
AeriTek was formed by Mill Point Capital in 2024 through a single corporate carve-out transaction involving the commercial refrigeration and foodservice equipment businesses operating under the Imbera and Torrey brands. Including AeriTek, Mill Point has completed 17 corporate carve-outs, underscoring its expertise in executing complex transactions.
Since its formation, AeriTek has made significant progress executing upon its Value Creation Plan. The Company has made substantial strides in completing key post-close carve-out workstreams, including the full decoupling of its IT systems, which was completed ten months ahead of schedule. AeriTek has also advanced its sustainability strategy, highlighted by a state-of-the-art recycling facility, which includes the first polyurethane foam reactor in the Americas and achieved full operational status earlier this year.
“We are pleased to announce this successful sale-leaseback transaction, which is a testament to AeriTek’s strong operational execution and the meaningful progress the management team has made since the carve-out,” said Mark Paolano, Partner at Mill Point Capital. “This transaction strengthens AeriTek’s financial profile and enhances its ability to continue delivering innovative, high-quality and energy-efficient solutions to customers worldwide.”
“This transaction underscores Mill Point’s ability to execute complex initiatives that generate value for our investors. To complete a significant return of capital to shareholders less than a year after closing the initial investment highlights the rapid success of the AeriTek partnership and the effectiveness of our Value Creation Plan,” added Sebastian Bustamante, Vice President at Mill Point Capital.
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