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Sawaya Segalas News
December 3, 2003
Stonebridge Partners and Weston Presidio Announce the Sale of Hunter Fan, Inc.

Stonebridge Partners and Weston Presidio Capital, two leading private equity groups focused on investing in middle market companies, announced that they have sold the Hunter Fan Company ("Hunter" or the "Company"), a holding of the Stonebridge Partners Equity Fund III, L.P. investment portfolio, to Lehman Brothers Merchant Banking. The sale was valued at approximately $255 million and completed on December 3, 2003. JPMorgan Securities, Inc. and Sawaya Segalas & Co. LLC acted as exclusive advisors to Hunter in this transaction.

Hunter, headquartered in Memphis, Tennessee, is the world’s premier designer and marketer of high-quality ceiling fans and other home comfort products sold under the Hunter® and Casablanca® brand names. Established in 1886, the Company’s Hunter and Casablanca brands are the #1 and #2 premium brands, respectively, in the ceiling fan industry. The Company also designs, engineers and markets a growing line of Hunter home comfort products, such as air purifiers, humidifiers and thermostats. Since 1990, Hunter (www.hunterfan.com) has consistently grown its revenues as a result of the strength of its brands, long-standing customer relationships, ongoing new product development activities, a Company-wide commitment to continuous improvement, and the successful integration of strategic acquisitions

Stonebridge Partners is a premier private equity firm with an 18-year history of acquiring middle market companies in conjunction with existing management teams. Since its establishment, Stonebridge has closed on 45 acquisitions and has invested approximately $500 million of capital. Stonebridge primarily focuses on value-added manufacturing companies, partnering with talented management teams and providing capital and operating expertise to enhance growth in sales and profitability.

In existence since 1991, Weston Presidio (www.westonpresidio.com) has over $2.3 billion under management and has invested in over 89 portfolio companies in a variety of industries, including consumer products and retail, manufacturing and industrial, media service and technology. Representative investments include JetBlue Airways, restoration Hardware, Fender Musical Instruments, Mapquest and Nebraska Books.

Contact: Michael S. Bruno, Jr.
Managing Partner
(914) 682-2700
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