Griffon plans up to $750 million term loan B for Hunter Fan buy

By Sara Rosenberg

New York, Dec. 20 – Griffon Corp. has received a commitment for up to $750 million of debt financing, which is expected to be in the form of a term loan B, to help fund its acquisition of Hunter Fan Co. from MidOcean Partners, according to a company presentation.

BofA Securities Inc. provided the debt commitment.

Other funds for the $845 million acquisition are expected to come from borrowings under the company’s existing revolving credit facility and cash on hand.

The purchase is being done through Griffon’s subsidiary AMES Cos. Inc., a provider of branded consumer and professional tools and products for home storage and organization, landscaping and enhancing outdoor lifestyles.

Closing is anticipated by the end of January, subject to regulatory approvals and customary conditions.

Griffon is a New York-based diversified management and holding company that conducts business through wholly-owned subsidiaries. Hunter Fan is a Memphis, Tenn.-based designer and distributor of residential ceiling, commercial and industrial fans.

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