Lindsay Goldberg Sells Big Ass Fans
Private equity firm Lindsay Goldberg is selling portfolio company Big Ass Fans to Madison Industries’ Indoor Air Quality vertical. Big Ass Fans provides branded air flow solutions that drive energy efficiency, thermal comfort and workplace safety and productivity.
Russell Triedman, Managing Partner of Lindsay Goldberg, said, “We are incredibly proud of our partnership with Big Ass Fans and of our collaboration with the Company’s exceptional management team. This investment exemplifies the value we bring to our portfolio companies by working closely with founders and management teams to identify attractive areas for expansion, invest in new product development, enhance operations and drive growth. In recent years, Big Ass Fans strengthened and extended its industry-defining brand, increased focus on sales and marketing excellence, improved margins and cash flow, and effectively managed through COVID while growing EBITDA. Of course, the entire Big Ass Fans team played a role in this transformation, and we wish them continued success as part of Madison IAQ.”
The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2021. Financial terms of the transaction were not disclosed.
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