M&A
confidence high
sentiment neutral
materiality 0.75
Griffon acquires Hunter Fan Company for $845M; funded by cash, $750M term loan, $400M revolver
GRIFFON CORP
- Acquires Hunter Fan from MidOcean Partners for $845M, subject to closing adjustments.
- Financing: ~$130M cash, $750M term loan, $400M revolver; Bank of America committed.
- Reverse termination fee of $46.475M payable by Griffon under certain conditions.
- Closing conditioned on antitrust approval; target outside date March 31, 2022.
- Hunter Fan is market leader in residential and commercial ceiling fans.