AeriTek Acquires Continental Refrigerator’s Parent Company

AeriTek Global Holdings has acquired National Refrigeration & Air Conditioning Products, the parent company of FEDA manufacturer member Continental Refrigerator. The move is AeriTek’s third North American acquisition in less than eight months and also includes National Comfort Products, an HVAC manufacturer. AeriTek is a portfolio company of Mill Point Capital.

In a news release, AeriTek said Continental’s commercial kitchen equipment portfolio — which includes reach-in coolers and freezers, sandwich prep worktops, pizza prep units, and griddle stands — is highly complementary to its existing front-of-house beverage merchandising and display offerings. Additionally, Continental’s long-standing distributor relationships and buying group partnerships are expected to strengthen AeriTek’s go-to-market infrastructure and accelerate its inroads into the U.S. foodservice channel.

“Adding Continental Refrigerator and National Comfort Products is a defining step for AeriTek’s value creation plan,” said Antony Besso, CEO and executive chairman of AeriTek. “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 acquisition is exactly the type of transaction we envisioned when we first invested in AeriTek,” added Mark Paolano, partner at Mill Point Capital. “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.”