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MidOcean Partners Announces the Acquisition of the Hunter Fan Company from Lehman Brothers Merchant Bank

New York, NY . April 16. 2007 - MidOcean Partners, a premier private equity firm with of?ces in New York and London, todav completed the acquisition at the Hunter Fan Company, the leading national brand in home comfort products, from Lehman Brothers Merchant Banking Group. The financial terms of the transaction were not disclosed. Headquartered in Memphis, Tennessee, Hunter will continue to operate as an independent company, headed by the existing management team.

Over the past 120 years, Hunter has become the leader in designing, engineering and marketing premium ceiling fans under the well known and highly regarded Hunter brand; decorative lamps and fixtures sold under the Hunter and Kenroy labels and a growing line of Hunter home comfort products such as air purifiers, humidifiers and thermostats.

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 is the dominant brand providing high quality fans and other home comfort products to the consumer. With its focus on quality and product innovation, we believe that Hunter is uniquely positioned for growth. In addition, we are excited about the opportunities resulting from the growing consumer awareness and emphasis on energy efficient products.”

Robert E. Beasley. Jr., President and Chief Executive Officer of Hunter said. “MidOcean‘s investment in Hunter is a recognition of the successes we have had in building the 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.” Kirkland and Ellis provided legal advice to MidOcean Partners with KPMG providing accounting advice. Financing for the transaction was provided by JP Morgan and Goldman Sachs.

MidOcean’s recent acquisitions include: Sbarro, lnc., the world’s leading quick service Italian restaurant concept; totes>>Isotoner Corporation, a leading designer and marketer of branded functional accessories; a 50% ownership interest in Penton Media Inc., one of the nation’s largest business to business media and information services companies; and the U.K.-based Europackaging Group, a customer focused, leading international manufacturer, distributor and consolidator of packaging products and other key goods not for resale. In 2006 MidOcean also sold its ownership stakes in United Biscuits and Thompson Publishing Group.

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

About Hunter
Founded in 1886, Hunter Fan has been designing and manufacturing quality fans for over 120 years. Today, Hunter has expanded its product offerings to include other home comfort products such as air purifiers, humidifiers, thermostats and also sells decorative lamps and fixtures under the Hunter and Kenroy labels. For more information, visit www.hunterfan.com.


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