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

AeriTek Global Holdings (a portfolio company of Mill Point Capital) has acquired Minus Forty QBD Corp, doing business as Due North, combining AeriTek’s Imbera and Torrey businesses with Due North’s QBD and Minus Forty brands to create a scaled North American manufacturer and distributor of refrigerated display cases. Ronin Equity Partners, which formed Due North in 2021, is exiting the investment as part of the transaction and intends to run a GP-led continuation vehicle to bring in new minority investors in the expanded group.