It’s a win-win proposition when two family-run, multi-generational businesses come together for the betterment of their customers. Cleveland area-based Hinkley Lighting and St. Louis-based Tacony Corporation share the same Midwestern values, commitment to quality, and service. As a result, Jess Wiedemer, President of Hinkley Lighting, announced the acquisition of Regency Ceiling Fans and related assets from parent company, Tacony Corporation, on February 28.
For Tacony, the acquisition allows the company to focus on its core business markets of floor care and sewing products while providing a suitable home for Regency Ceiling Fans. “We had been looking for a strategic partner with the necessary resources and expertise to help take Regency to the next level,” says Kristi Tacony Humes, CEO of Tacony. “We believe Hinkley Lighting provides Regency with a unique opportunity for growth because of its applicable experience in lighting and its reputation for trend-setting, high-quality, fashionable designs.”
In an interview with enLIGHTenment Magazine, Rick Wiedemer, CEO of Hinkley Lighting, notes that the acquisition had been in development for some time. “We’ve always considered categories that complement our current channels of business,” he explains, adding, “Timing is everything.” In this case, the time was mutually ideal for both companies when looking forward to the future. “Tacony is a family-owned conglomerate that brings a lot of family values to their business like we do to ours. We respect how they have built all of their brands and we expect to do the same,” Wiedemer remarks.
Regency Ceiling Fan’s inventory – which was housed in distribution centers in Florida and California – will be relocated to Hinkley’s facility in Ohio, which will create seamless shipping for Hinkley customers.
Heading up the ceiling fan product development team is industry veteran John Moody, who is based in Cleveland. Moody’s ceiling fan experience includes years at Emerson, Fanimation, Kichler, and most recently WAC/Modern Forms.
For the remainder of 2019, Regency Ceiling Fans will continue to operate as usual; however, the rep force will be handled by Hinkley Lighting’s network. An assortment of Regency fans will be hanging in the Hinkley Lighting showroom in the Dallas Market Center – instead of its previous showroom – in time for the June Lightovation show.
Going forward in 2020, the new Regency fans will most likely have both basic and decorative flair. “We don’t want to abandon the classic look of Regency’s fans, but we can expand from there and bring Hinkley style and fashion [to the category], Wiedemer explains, adding that there is no defined plan to match ceiling fan styles to lighting product families.
Adds Eric Wiedemer, Vice President of Hinkley, “Regency’s existing product lines, paired with the design-forward expertise of Hinkley Lighting, will strengthen the position of Hinkley in the marketplace. By widening our indoor and outdoor product offering through the fan category, we create a more connected and cohesive brand experience for our showrooms and the consumer.”
“We believe this will be a seamless transition for our customers and end-users, as well as our
employees and local community,” Rick Wiedemer affirms. “Regency ownership shares our commitment to overall customer experience, a family-oriented work environment, and support for the communities in which we live and work.”