The Lasko family is still investing in their renowned portable fan company’s future, but majority ownership of the 110-year West Chester family business has blown into the hands of private-equity firms.

In a final move before retirement, CEO Bill Lasko just signed a deal to sell Lasko Holdings to Comvest Partners and J.W. Levin Management Partners, according to a Philadelphia Inquirer report by Joseph DiStefano.

“We admire the decades of leadership of Oscar Lasko and his son, Bill Lasko,” said Comvest Partner Tom Clark. “We believe Lasko is uniquely positioned as a result of its domestic production facilities to service its customers, and plan to enhance this service offering while increasing the company’s growth through new products, categories, and geographies.”

Jerry W. Levin will assume the position of chairman and interim CEO, while other Lasko managers will stay aboard.

“This is an exciting opportunity for the company,” Bill Lasko said. “My family and our loyal team at the company have built a tremendous legacy over the past century. Comvest and JWLMP bring the resources, experience, and knowledge to continue this legacy and take the company to the next level.”

Read more about the deal in the Philadelphia Inquirer here, and check out previous VISTA Today coverage of Lasko here.