Why Lindsay Goldberg?
- Lindsay Goldberg was the first institutional equity investor in Big Ass Fans, acquiring the company from its founder, who had launched the company two decades earlier.
- Lindsay Goldberg’s reputation as a great partner for founder-led businesses, its expertise in both the consumer and industrials sectors, and its long-term approach to active business building positioned the firm as a strong fit for the company.
Investment Thesis Highlights
- HVLS category creator and leader: Best-in-class products, well-established and recognized brand, and leading market position.
- Compelling value proposition: Products save energy, improve comfort, and enhance workplace efficiency and safety, driving value for customers and yielding attractive payback rates.
- Large addressable market opportunity: Meaningful white space for growth and limited penetration to date despite Big Ass Fan’s high market share.
- Diversified customer mix: Big Ass Fan serves numerous end markets and customer types.
- Meaningful business transformation opportunity: Identified meaningful opportunities to support the next phase of the company’s growth.
Post-Investment Value Creation
- Following the company founder’s planned retirement, BAS recruited a new senior leadership team.
- The Company has undertaken a robust operational improvement and optimization program.
- The Company has focused on enhancing its sales and commercial processes to more effectively capture the significant white space in the market for industrial and commercial fans.