AeriTek (Mill Point Capital) Acquires Due North (Minus Forty QBD Corp)

Ronin Equity Partners Acquires QBD and Minus Forty to Create Refrigerated Display Platform

September 7, 2021

Manufacturing

Ronin Equity Partners has acquired two Greater Toronto–area manufacturers of commercial refrigeration equipment, QBD and Minus Forty, in a $230 million transaction. Ronin will merge the businesses as a platform for buy-and-build consolidation in the fragmented refrigerated display market, with several institutional and family-office co-investors participating.

Due North Acquires MTL COOL

September 19, 2022

Manufacturing

Due North, the operating platform backed by Ronin Equity Partners, has acquired Canadian refrigerated merchandiser manufacturer MTL COOL. The acquisition expands Due North's product portfolio and consolidates refrigerated retail display capabilities across grocery, convenience and food & beverage customers; MTL COOL reported C$30 million in fiscal 2022 revenue.

Mill Point Capital Acquires FEMSA's Imbera and Torrey Businesses to Form AeriTek Global LLC

July 17, 2024

Manufacturing

An affiliate of Mill Point Capital LLC has completed the acquisition of the commercial refrigeration and foodservice equipment businesses of FEMSA (doing business as Imbera and Torrey) in a cross‑border corporate carve‑out, establishing AeriTek Global LLC as a standalone platform. The transaction unites the Imbera and Torrey brands under Mill Point's ownership to support product innovation, sustainability initiatives and expanded aftermarket services from the company's Kennesaw, Georgia headquarters.

Nordic Cold Chain Solutions Acquires Minus Works Inc.

October 1, 2024

Packaging

Nordic Cold Chain Solutions has acquired Minus Works Inc., a U.S. manufacturer of sustainable cold-chain gel packs and proprietary freezing technology. Nordic will assume control of Minus Works' Long Island facility, build a new manufacturing site in Pottstown, Pennsylvania, and expand operations in Reno, Nevada to scale the company's eco-friendly cold-chain solutions nationwide.

Tonka Bay Equity Partners Acquires Corporate Technologies

July 19, 2023

IT Services

Tonka Bay Equity Partners led a majority buyout of Corporate Technologies, a Minneapolis-based managed IT services provider, partnering with CEO Jim Griffith and junior capital provider Northstar Capital. The seller was North Central Equity; Northstar provided debt and an equity co-investment to support the transaction as Corporate Technologies becomes a platform for add-on growth across multiple U.S. markets.

Ronin Equity Partners Creates DK2 Platform with Acquisitions of DK2, SnowBear and Currahee Trailers

June 14, 2022

Manufacturing

Ronin Equity Partners acquired and merged three manufacturers — DK2, SnowBear and Currahee Trailers — to create a North American platform operating under the DK2 name focused on outdoor power equipment and utility trailers. The combined group, backed by co-investors and LPs (including Harvey & Company, Stephens Capital Partners, Northwood Ventures and Knott Partners), will pursue a buy-and-build strategy to scale manufacturing, expand distribution (including major home-improvement channels) and fund further add-on acquisitions.