Japan’s Lixil Corp to buy ASD Americas Holding for $542 mn
28 Jun 2013
Japan's biggest building products company, Lixil Corp today said that it will buy toilet and plumbing facilities maker ASD Americas Holding Corp from an affiliate of private equity firm Sun Capital Partners, for $542 million.
New Jersey-based Americas Holding, the parent company of American Standard Brands, is a leading manufacturer of a wide range of high quality kitchen and bath products for residential and commercial customers in the North America, Canada and Mexico.
The company employs more than 5, 000 people and markets products under the brand names of American Standard, Jado, Porcher, Safety Tubs, Crane Plumbing, Eljer, Fiat and Decorative Panels International.
Post closing, subject to regulatory approval, the company will remain headquartered in the US, and continue operating all existing facilities
The $15.3-billion Lixil has been actively expanding its global business with international sales reaching around 200 billion yen, contributing over 14 per cent of sales.
The company's global operations are present in more than 30 countries. In North America, Lixil owns Permasteelisa Group, a high-end curtain wall contractor, which has revenues of approximately 30 billion yen.
Yoshiaki Fujimori, president of Lixil, said, ''American Standard is the leader in the kitchen and bath products market with a deep history of more than 130 years. Lixil is targeting 1 trillion yen sales revenue in its international businesses, with the goal for the international business to grow to approximately 30% of total Group revenues.''
''This transaction marks an exciting chapter in our 137-year history,'' said Jay Gould, American Standard Brands president and CEO. ''We and our customers will surely benefit by combining Lixil's quality control, manufacturing technology and product development with American Standard's sales networks.''
Lixil is Japan's largest manufacturer group for building materials and housing equipment and has more than 75,000 employees worldwide.
The Tokyo-based company offers solutions in housing and lifestyle and an extensive product lineup from windows, tiles, front doors, kitchens, bathrooms, and toilets under the brand name of American Standard, Inax and Tostem.
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