Display Case Manufacturer Federal Industries Sold to AeriTek

AeriTek Global Holdings, a portfolio company of Mill Point Capital, has acquired Federal Industries in a carve-out transaction from Standex International Corp. Federal is a FEDA manufacturer member specializing in refrigerated, heated, and ambient food and beverage merchandising display cases. The company had about $35.7 million in revenue in fiscal year 2025, selling primarily to convenience stores, schools, specialty retail, and restaurants.

“We are thrilled to welcome Federal into the AeriTek family,” said Antony Besso, executive chairman and CEO of AeriTek. “Federal’s deep relationships with U.S. foodservice dealers and distributors, combined with its vertically integrated manufacturing facility in Wisconsin, give us both the commercial reach and domestic production capacity we need to accelerate growth in the U.S. market. This acquisition is a natural extension of our platform, and we look forward to building on this momentum.”

The addition of Federal is expected to strengthen AeriTek’s position in the high-growth U.S. foodservice channel, adding an expansive network of distributor relationships and a national go-to-market infrastructure.

“This transaction delivers on a core pillar of our value creation plan for AeriTek by meaningfully expanding our position in the U.S. foodservice market,” added Mark Paolano, partner at Mill Point Capital. “Furthermore, Federal’s product portfolio is highly complementary to AeriTek’s existing offerings — combining the two platforms creates a comprehensive suite of refrigeration and foodservice solutions for customers across a wide range of end markets. We are excited to work alongside management to realize the full potential of the combined business.”