American Standard Brands and Decorative Panels International announced the merger of their respective companies.
American Standard Brands and Decorative Panels International (DPI), a manufacturer of high quality, smooth hardboard and decorative wall panel products, announced the merger of their respective companies. Both are affiliated portfolio companies of Sun Capital Partners.
Tim Clark, DPI’s CFO, has been appointed president of DPI and will report to Don Devine, president and CEO of American Standard Brands. Previous president and CEO of DPI Mike Kilban will become president and CEO of Protective Products Enterprises, another Sun portfolio company. DPI is based in Toledo, OH, and will remain in its current location. Terms of the merger were not disclosed.
The merger with DPI comes three months after American Standard acquired Safety Tubs LLC, the second-largest manufacturer and supplier of walk-in bathtubs. “We believe that expanding to enhance our capabilities to provide total project solutions is the best way to grow in what remains a challenging market environment,” said Donald C. Devine. “The merger with DPI represents an exciting opportunity for American Standard Brands to expand our capability to capture a larger share of the remodeling projects. In addition, we will continue to actively seek acquisitions which fit our growth strategy and build upon our vision to create a great building products company.”
For more information, read here.
