January 19, 2022

Hunter Fan Company Expands Into Lighting

Hunter Lighting™ will complement the company’s strong ceiling fan business

Last month, Griffon Corporation announced that it was acquiring Hunter Fan Company from MidOcean Partners for $845 million. The transaction is expected to close this month. Hunter markets fans under the Casablanca and Hunter brands and also has a Hunter Industrial high volume, low speed (HVLS) fan product line. And this month, the company has formally introduced its new product platform, Hunter Lighting™.

Hunter Fan Company has a long customer roster, with top customers including The Home Depot, Lowe’s, Menards, Costco, and Amazon. Hunter also has a direct relationship with consumers through its robust e-commerce business. In recent months, the inside.lighting InfoLetter has published numerous new alliances between Hunter Fan Company and various U.S. commercial lighting agents.

According to a company announcement, “expanding into the lighting industry, the company will partner with HGTV host Jasmine Roth and offer more than 300 SKUs.” Roth is the star of “Help! I Wrecked My House,” an inside.lighting staff favorite. The company currently cites five Hunter Lighting™ product categories at www.hunterfan.com:

Chandeliers
Pendants
Flush Mounts
Bathroom Vanity Lights
Wall Sconces

“Expanding into lighting was the clear and strategic next step for the Hunter brand,” said John Alexander, CEO of Hunter Fan Company. “In the last 135 years, we have become masters of the ceiling fan and built confidence among consumers who can now trust us with their lighting needs.”

Griffon Corporation expects Hunter Fan Company to contribute $400 million in revenue and $90 million of EBITDA, excluding synergies. Griffon’s purchase price represents an approximate 9.4 times multiple of EBITDA from the expected first full fiscal year of operation. The company did not disclose actual financials relating to revenues or EBITDA.