Industry | Manufacturing |
---|---|
Founded | 1901 (as Ideal Standard) 2007 (as Ideal Standard International) |
Headquarters | , Belgium |
Brands | Ideal Standard, Armitage Shanks, Porcher, Vidima, American Standard |
Owner |
|
Website | idealstandard |
Ideal Standard is a privately held multinational plumbing fixture company headquartered in Belgium.
Operating primarily in Latin America and Europe, the brand dates back to 1949, when it was used to brand fixtures of the foreign operations of the American Standard group. [1] The "Ideal" name traces back to the "Ideal Boilers" brand used by the American Radiator Company. [2] [3]
A new company, known as Ideal Standard International, was formed in 2007 by the sale of the bath and kitchen products businesses of American Standard Companies for $1.745 billion to Bain Capital Partners. [4] The North American and Asian operations of American Standard were sold to Sun Capital and Lixil Group respectively, with the European and Latin American operations retained as Ideal Standard. [5]
The company was then restructured, implementing cost-cutting measures, as well as moving some of company's production facilities to Asia and Eastern Europe – a new production site was opened in Bulgaria. The acquisition by Bain Capital was facilitated by Credit Suisse and Bank of America; the creditors subsequently struggled to dispose of their debt. [6]
The restructuring program was complete in 2011, but the company was loss making in 2012 due to poor sales. [7] In 2013 the company reduced its workforce by 250 due to poor sales; [8] further restructuring was proposed in 2014, including a debt for equity swap with bondholder Anchorage Capital. [9] In 2014 the EU competition commission approved Anchorage Capital becoming joint owner of the company together with Bain Capital. [10]
As of 2014 [update] the company was headquartered in Belgium, and had over 10,000 employees. Its products include bathroom fittings including bathrooms, sanitary ware, and showers, sold under brands including Armitage Shanks, Ceramica Dolomite, Porcher, and Vidima. [11]
In September 2023, it was announced Ideal Standard had been acquired by the Mettlach-headquartered ceramics manufacturer, Villeroy & Boch for €600 million. [12] The transaction was completed in March 2024. [13]
KTM is an Austrian motorcycle, bicycle and motorsports brand which is co-owned by Indian manufacturer Bajaj Auto and Austrian manufacturer Pierer Mobility AG. It traces its foundation in 1934 as Kronreif & Trunkenpolz Mattighofen. Today, Pierer Mobility AG operates as the manufacturer of KTM branded motorcycles; whereas KTM Fahrrad AG operates as the manufacturer of KTM branded bicycles.
Armitage Shanks is a British manufacturer of bathroom fixtures and plumbing supplies, now part of the group Ideal Standard.
American Standard Companies Inc. was a manufacturer of heating, ventilation, and air conditioning (HVAC) systems, plumbing fixtures, and automotive parts. The company was formed in 1929 through the merger of the American Radiator Company and Standard Sanitary Manufacturing Company forming the American Radiator and Standard Sanitary Corporation. The name was simplified to American Standard in 1967.
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American Standard Brands is a North American manufacturer of plumbing fixtures, based in Piscataway, New Jersey, United States. It is principally owned by the Lixil Group, with Bain Capital Partners holding a minority stake. The company was formed as American Standard Americas from the North American operations of the kitchen and bathroom division of the American Standard Companies during a breakup of the company in 2007. Crane Plumbing and Eljer were merged into the company in 2008 creating American Standard Brands.
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Lixil Group is a Japanese group of companies that manufactures building materials, plumbing fixtures and housing equipment, headquartered in Tokyo.
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The more than century-old American Standard was sold in 2007 to a Bain Capital Partners LLC fund for $1.76 billion. Bain sold the North American part of the business to Sun Capital for about $130 million and later sold the Asian business to Lixil, then known as JS Group, while retaining the European and Latin American operations, known as Ideal Standard.