Press Room - Press Release

For the Media

11/19/2010

American Standard Brands Merges With Decorative Panels International

American Standard Brands and Decorative Panels International (DPI) are pleased to announce the merger of their respective companies.

  • Expands American Standard’s Total Project Solution Capabilities
     
  • Provides DPI access to broader market and affiliation with strong brands

PISCATAWAY, N.J. (November 19, 2010) ‒ American Standard Brands and Decorative Panels International (DPI) are pleased to announce the merger of their respective companies.

American Standard Brands is a leading North American manufacturer of bath and kitchen products serving both the residential and commercial markets, as well as new construction and remodeling.  DPI is a leading manufacturer of high quality, smooth hardboard and decorative wall panel products.  American Standard Brands and DPI 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.Mike Kilbane, previously President and CEO of DPI, 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.

Having successfully completed the merger of American Standard, Crane Plumbing, Eljer Plumbing in 2008, American Standard Brands is focused on expanding its value share of the market. 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.”

Known for the quality of its products and innovative design and engineering, DPI’s panels provide an ideal decorating solution in bathrooms and kitchens, in addition to other residential and commercial settings such as bedrooms, garages, stores and offices. Over the years, DPI has established itself as an industry leader with dominant market share. Its products have been featured on national television shows including Extreme Makeover: Home Edition and HGTV.

“American Standard Brands’ significant brand recognition, broad footprint in the market and scale will help fuel the growth that DPI has initiated on its own,” said Tim Clark, president of DPI.

About American Standard Brands
American Standard Brands is a leading North American manufacturer of a wide range of high-quality kitchen and bath products, including faucets, fixtures, furniture, vitreous china fixtures, cast iron sinks, whirlpool tubs and other related products. The company currently serves both the residential and commercial markets; employs more than 5,000 people in the United States, Canada and Mexico; and markets products under the American Standard®, Crane Plumbing®, Eljer®, Porcher®, Jado®, Fiat® and Safety Tubs brands. For more information, please see: www.americanstandard-us.com.

About Decorative Panels International (DPI)
Headquartered in Toledo, Ohio, with manufacturing facilities in Toledo and Alpena, Mich, Decorative Panels International (DPI) is the world’s foremost manufacturer of high quality finished decorative and utility wall panels, marker board and rigid print media. DPI vast customer base spans all of North America as well as over 30 foreign countries. For more information, please visit www.decpanels.com.

Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in companies that can benefit from its in–house operating professionals and experience. Sun Capital affiliates have invested in more than 225 companies worldwide with combined sales in excess of $40 billion since Sun Capital’s inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates with offices in London, Paris, Frankfurt, Luxembourg, Shanghai and Shenzhen. For more information, please visit www.SunCapPart.com.

For more information, please contact:

Tracy Benson Kirker
Managing Partner
On the Same Page, LLC
(914) 522-6575
tracy@on-the-same-page.com

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