SLATE Partners (SLATE) announced that its Principals advised ZOO Fans Inc. (ZOO Fans) on its sale to Rite-Hite, a world leader in the manufacture, sale, and service of loading dock equipment, industrial doors, HVLS fans, safety barriers, and industrial curtain walls.
Founded in 2010 with operations in Olathe, Kansas and Boulder, Colorado, ZOO Fans is a leading provider of innovative fans and smart controls. ZOO’s offering includes proprietary small destratification fans and control systems as well as large diameter, high-volume, low-speed fans and JetVent fans provided through a strategic partnership with Fantech PTY. The Company’s products offer competitive pricing, unparalleled performance, and innovative controls that deliver energy cost savings and noticeably improve comfort in the Zone Of Occupancy. ZOO’s intelligent control systems include proprietary automatic controls that can operate independently or fully integrate into building automation systems. The Company serves a variety of end markets, including warehouse/distribution, industrial, government, grocery, education, and commercial spaces, as well as parking garages for mixed-use, apartment, and small-to-very-large commercial installations.
“With the increasing adoption in e-commerce and smart buildings, ZOO Fans’ technology-enabled products uniquely positon the Company to capitalize on the growing market for warehouses, cold-storage, and distribution centers. The partnership between ZOO Fans and Rite-Hite creates a compelling offering to their mutual customer relationships and a wealth of opportunity to expand both brands globally,” commented Aaron Bachik, Co-founder and Managing Partner of SLATE Partners.
Jeff Benton, CEO of ZOO Fans, noted, “SLATE Partners was instrumental in delivering a great outcome. They identified a buyer that promises to be a great strategic fit with ZOO Fans and its employees. We interviewed several investment bankers and selected SLATE based on the confidence they engendered in our early conversations, as well as the strength of the referrals they provided. Now that I have worked with them, I too would not hesitate to recommend SLATE. Their team-based approach provided tremendous support throughout, and their ability to negotiate a positive outcome for all parties is what got the transaction completed.”
ZOO Fans received legal representation in the transaction from Fredrikson & Byron, P.A.
