Piscataway, N.J. — The leaders of American Standard America, Crane Plumbing Holding Corp. and Eljer Holding Corp. have announced that the merger of their respective companies is complete. The new combined company will conduct business under the name of American Standard Brands. Donald C. Devine, previously president and CEO of American Standard America, has been named CEO of American Standard Brands, effective immediately. Until integration plans are complete, Kevin Oak will retain his role as CEO of Crane as will Jim Harris as CEO of Eljer. Both will report to Devine. Once integration plans are complete, Oak will assume the COO position of American Standard Brands and Harris will continue to serve on the merger integration leadership team.
The new company, American Standard Brands, will offer a broad brand portfolio, a comprehensive set of product lines, enhanced distribution opportunities, cost benefits and greater scale in its relevant markets.
“We are excited to join forces with Crane and Eljer to create a leading North American bath and plumbing company that will offer a stronger, more compelling value proposition to our commercial, retail, showroom and residential customers,” said Devine. “Our customers will now be able to select from a broader mix of products and rely on consistently high levels of quality, value and customer service.”
Devine continued, “As previously announced, we are in the process of integration planning. Integration takes time and must be done right, but we are excited to bring these world-class firms together as quickly as we can and will provide updates where appropriate and through your regular company contact.”
The three companies announced their intention to merge on Feb. 13, 2008. American Standard America, Crane Plumbing Holding Corp. and Eljer Holding Corp. are affiliated portfolio companies of Sun Capital Partners Inc., a private investment firm specializing in leveraged buyouts. Through its investment in Ideal Standard, Bain Capital Partners Inc. is a minority partner in American Standard America, and will remain a minority partner in the new consolidated entity.
American Standard America is a leading North American manufacturer of bath and kitchen products. The company participates in all key product categories, including bathroom and kitchen faucets, fixtures and furniture, with leading positions in toilets and the number two position in bathroom fixtures in the U.S. and overall category leadership in Canada, the Dominican Republic and Mexico. Products are marketed under brand names such as American Standard, Porcher and Jado.
Crane Plumbing manufactures and distributes plumbing fixtures and specialty plumbing products in the U.S. and Canada under the Crane Plumbing, Fiat, Showerite, Universal-Rundle and Sanymetal brand names. Products are sold to more than 3,000 plumbing wholesale outlets and 4,000 retail stores.
Eljer manufactures and markets vitreous china fixtures, cast iron sinks, whirlpool tubs, and other related plumbing products for the kitchen and bathroom markets. Products are distributed through a network of wholesale distributors, hardware stores and do-it-yourself home centers serving the residential, commercial construction, remodeling and repair markets in both the U.S. and Canada.
Sun Capital Partners Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments, in market-leading companies. Sun Capital affiliates have invested in and managed more than 185 companies worldwide with combined sales in excess of $35 billion.