The leaders of American Standard America, Crane
Plumbing Holding Corp. and Eljer Holding Corp. announced the completion of the
merger of their respective companies. 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 Oakwill retain his role as CEO of Crane, as willJim
Harrisas 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.
“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.”
The
three companies first announced their intention to merge on Feb. 13. American
Standard America, Crane Plumbing Holding Corp. and Eljer Holding Corp. are
affiliated portfolio companies of Sun Capital Partners Inc. 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.
March 7, 2008 - American Standard Completes Merger
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