- Divestiture supports continued simplification of portfolio
- Enables greater focus on larger businesses and fast growth end market opportunities
- Proceeds to be used towards organic and inorganic initiatives and debt repayment
, /PRNewswire/ — Standex International Corporation (NYSE:SXI) announced today that it has divested Federal Industries, its display merchandising business, to AeriTek Global Holdings LLC (“Aeritek”), a portfolio company of Mill Point Capital – a leading private equity firm, at an enterprise value of approximately $70 million. The Federal Industries business was previously part of the Specialty Solutions segment. In fiscal year 2025, Federal Industries’ net revenues were approximately $35.7 million.
“We are pleased to announce the sale of our Federal Industries business to AeriTek,” said Standex President & CEO David Dunbar. AeriTek is a leading manufacturer of commercial refrigeration and food service equipment. We believe AeriTek is well positioned to enable the Federal business to grow and reach its strategic potential. I would like to thank our Federal Industries colleagues for their 40 years of contributions to Standex and wish them much success as they start a new chapter for the business.”
Standex intends to use the proceeds from the sale in accordance with its current capital allocation framework, comprised of organic growth opportunities, inorganic initiatives, and debt repayment.
Advisors: Roth Capital Partners, LLC and Foley Hoag LLP served as exclusive financial and legal advisors to Standex, respectively.
About AeriTek Global US Inc.
Since its inception in 1941, AeriTek has been a trailblazer in the commercial refrigeration and foodservice equipment markets, doing business as Imbera, Torrey, QBD and Minus Forty. AeriTek offers an expansive portfolio of highly customized products, setting itself apart through relentless product innovation and delivering best-in-class quality. Additionally, AeriTek is an industry leader in sustainability standards and aftermarket services. AeriTek is headquartered in Kennesaw, GA. For more information, please visit https://aeritekna.com/.
About Mill Point Capital
Mill Point Capital LLC is a private equity firm focused on control investments in lower-middle market companies across the Business Services, Industrials and IT Services sectors throughout North America. Mill Point’s experienced team of investment professionals, Executive Partners and Functional Experts seeks portfolio company value enhancement through rigorous implementation of transformative strategic initiatives and operational improvements. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com.
About Federal Industries
Federal Industries provides merchandising solutions to retail and food service customers whose revenue stream is enhanced through food presentation. Federal Industries custom designs and manufactures refrigerated, heated and dry merchandising display cases for bakery, deli, confectionary and packaged food products utilized in restaurants, convenience stores, quick-service restaurants, supermarkets, drug stores and institutions such as hotels, hospitals, and school cafeterias. For additional information, please visit https://federalind.com/.
About Standex
Standex International Corporation is a multi-industry manufacturer in five broad business segments: Electronics, Engineering Technologies, Scientific, Engraving, and Specialty Solutions with operations in the United States, Europe, Canada, Japan, Singapore, Mexico, Turkey, India, and China. For additional information, visit the Company’s website at http://standex.com/.
SOURCE Standex International Corporation
