Lixil to purchase parent of American Standard Brands
The Lixil Corporation has agreed to purchase ASD Americas Holding Corp., the parent company of American Standard Brands, for US$542 million from an affiliate of Sun Capital Partners, Inc. The acquisition includes American Standard Canada.
Lixil, headquartered in Tokyo, is Japan’s largest manufacturer group for building materials and housing equipment. The company already owns American Standard Brands in the Asia Pacific market.
American Standard will remain headquartered in the U.S. and continue to operate all existing facilities. American Standard operates under the brand names: American Standard, Jado, Porcher, Safety Tubs, Crane Plumbing, Eljer, Fiat and Decorative Panels International.
An anticipated close date has not yet been announced.