Hunter Fan Company Changes Ownership Again!

On April 16, 2007 in New York MidOcean Partners announced the acquisition of the Hunter Fan Company from Lehman Brothers Merchant Bank.  MidOcean Partners is a premier private equity firm with offices in New York and London decided that the Hunter Fan Company would be a wise addition to their porfolio. 

This acqusition also includes Casablanca Fan Company, as a wholly owner subsidiary of Hunter Fan, Casablanca Fans will have a new majority shareholder as well, MidOcean Partners.

Hunter Fans will continue to operate independently

Over the past 120 years, Hunter has become the leader in designing, engineering and distributing mid to premium grade ceiling fans under the well known Hunter Brand.  The Hunter Fan Company has introduced decorative lamps, fountains and lighting fixtures sold under the Hunter and Kenroy labels and a growing line of Hunter home comfort products such as air purifiers, humidifiers and thermostates.  Headquartered in Memphis, Tennessee the Hunter Fan Company will continue to operate as an independant company, headed by their outstanding management team.

Who is MidOcean Partners?

MidOcean Partners is a premier private equity firm focused on the middle market.  Based in New York and London, MidOcean is committed to investing in high quality companies with stable market positions and multiple opportunities for growth in United States and Europe.  Their target markets include consumer and leisure, media and communications, business and financial services and industrials.  MidOcean utilizes a broad foundation of expertise in its focus industries and its transatlantic platform to create value for its investors and partners.

What was Said About the Hunter Fan Deal?

Rob Sharp, a Partner at MidOcean Partners, said "We are extremely pleased to partner with the Hunter management team to continue to grow the business.  Hunter Fan Company is the dominant brand providing high quality ceiling fans and other home comfort products to the consumer.  With its focus on quality and product innovation, we believe that Hunter Fan Company is uniquely positioned for growth.  In addition, we are excited about the opportunities resulting from the growing consumer awareness and emphasis on Energy Star energy efficient products."

"Over the past three years, Lehman Brothers has been a great partner for the Hunter Fan Company, supporting us as we invested in new products and new products and new product categories and delivering all the resources and expertise a global financial institution has to offer,"  said Robert E. Beasley, Jr., President and Chief Executive Officer of Hunter Fan Company. 

Robert E. Beasley, Jr., President and Chief Executive Officer of Hunter Fan Company said, "MidOcean's investment in the Hunter Fan Company is a recognition of the successes we have had in building business over the past three years and our mutual confidence in the significant growth potential for Hunter in the future.  We are excited about our new partnership with MidOcean as we enter into the next phase of our growth strategy."

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