www.pmmag.com/articles/91578-march-7-2008-american-standard-completes-merger
March 7, 2008 - American Standard Completes Merger
March 7, 2008
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 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.
“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.
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.
“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.
