Lighting company Frederick Cooper and its division Tyndale agreed in principle to a buyout involving key members of current management, several new executives and private equity investors.

Based on significant new investment, the Chicago-based manufacturer and designer of fine decorative lighting plans to bolster its design capability and develop marketing materials including a new catalog and a national consumer advertising campaign, management at Frederick Cooper said. Strong designs and product quality will continue to be the hallmark of the business, which will remain in the greater Chicago area.

Design and production leadership plans to stay on-board and to play an integral role in moving forward.

"We are very pleased to be able to work with new executives that can strengthen our position in the market and carry forward our fine tradition," said Vice President Fred Gershanov.

Gershanov, the Sawickes family and Suzanne Lauren, vice president, are among management remaining on board. The new investor group, led by Christopher Mumford, brings backgrounds from outside the industry.

"I think the strength of the name Frederick Cooper and the strength of targeting the affluent consumer in the very hot market" helped attract the outside investment group, said Eric Bauer, Frederick Cooper public relations spokesman. "We're going to make a very big deal about handcrafted in America."