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Majority stake · Closed Mar 2005 Verified

Fedders acquires 80% of Islandaire PTAC manufacturer

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Relationship map for Fedders acquires 80% of Islandaire PTAC manufacturerparent ofFedders Corp.: PlatformFCFedders Corp.Islandaire Inc.: Operating CompanyIslandaire Inc.
Operating CompanyPlatform

Parties

Acquirer
Fedders Corp.
Platform
Target
Islandaire Inc.
Operating Company

Summary

Fedders Corp. purchased 80% of Islandaire Inc. for cash and preferred stock, expanding into commercial HVAC. Islandaire will operate as Fedders Islandaire Co. with founder remaining as president. Fedders intends to purchase remaining 20% within three years.

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