M&A
confidence high
sentiment positive
materiality 0.85
Griffon completes $845M Hunter Fan acquisition; $800M Term B Loan
GRIFFON CORP
- Completed acquisition of Hunter Fan Company for $845M, subject to post-closing adjustments, from MidOcean Partners.
- Funded with new $800M Term B Loan (maturity Jan 24, 2029; SOFR+2.75% margin) plus cash and revolver draws.
- Existing $400M revolving credit facility remains; Hunter Fan becomes guarantor and pledges substantially all assets.
- Term B Loan amortizes at 1% annually; mandatory prepayment triggers include 50% excess cash flow (stepping down).