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American Standard Brands acquires Safety Tubs
Second Largest U.S. Manufacturer and Supplier of Walk-In Bathtubs Designed for Aging and Disabled Customers; Provides American Standard Immediate Access to Fast Growing Market
PISCATAWAY, N.J. (July 22, 2010) -- American Standard Brands, a leading North American manufacturer of kitchen and bath products serving both the residential and commercial markets, today announced it has acquired Safety Tubs, LLC, a privately held U.S. business specializing in the design and manufacturing of walk-in bathtubs for those with limited mobility, including the elderly, obese and disabled. Safety Tubs will operate independently as a subsidiary of American Standard Brands called Safety Tubs Company, LLC, and will be part of a dedicated division for Assisted Living. Safety Tubs CEO, Rob Buete, will become vice president and general manager of Safety Tubs and Assisted Living. Buete will report to Don Devine, President and CEO of American Standard Brands, an affiliate of private investment firm Sun Capital Partners, Inc. The Safety Tubs business, based in Grand Prairie, TX, will remain in its current location. Terms of the purchase were not disclosed.
Safety Tubs is the second–largest manufacturer and supplier of walk-in bathtubs, which is one of the fastest growing segments of the North American plumbing market. “This acquisition represents an exciting opportunity for American Standard Brands to expand our capabilities and technology in an attractive segment where we see high demand from both consumers and commercial businesses,” said Donald C. Devine, president and CEO of American Standard Brands. “American Standard and Safety Tubs have been partners for several years, with American Standard marketing Safety Tubs products under the American Standard brand to various channels. Andre Neidich, Safety Tubs owner, Rob Buete and I felt that the best way to expand the success of Safety Tubs would be to fully integrate the company into American Standard and take full advantage of American Standard’s engineering, sales, marketing and distribution capabilities.”
Known for the quality of its products and innovative design and engineering, Safety Tubs is focused on improving the bathing experience for individuals that have difficulty getting in and out of the bathtub. Its products have been featured on national television shows including Extreme Makeover: Home Edition and HGTV, and have received several prestigious awards including the “Award for Design Excellence” by Design Journal for three consecutive years, “Most Valuable Product for Building Industry Professionals” by Building Products Magazine and the “Innovative Product Award” from Kitchen and Bath Business Magazine.
Having successfully completed the merger of Crane Plumbing, Eljer Plumbing and American Standard in 2008, American Standard Brands is focused on expanding its value share of the market. “We’ll do this by delivering on our brand promise, ‘Style That Works Better,’ with great products and strategic acquisitions that bring market-leading technology to benefit the consumer and trades,” said Devine. “Safety Tubs fits our investment criteria and we are excited by the growth potential this category brings to American Standard. We will continue to actively seek other acquisitions which fit our growth strategy.”
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®, and Fiat® brands. American Standard Brands is an affiliated portfolio company of Sun Capital Partners. For more information, please see: www.americanstandard-us.com.
About Safety Tubs
Safety Tubs, LLCspecializes in the design and manufacturing of walk-in bathtubs for those with limited mobility, including the elderly, obese and disabled. Founded in 2003 and based in Grand Prairie, TX, our award-winning walk-in tubs – including both acrylic and gelcoat models with molded chair height seats – are the premier bathtub for a safer, healthier and more comfortable bathing experience. Safety Tubs® offers many features and options unique only to Safety Tubs®, including the patented T5™ Door System, the patent pending Minute Drain™ Water Removal System, Aromatherapy and Chromatherapy Systems, and Deluxe Back and The Legs Only Massage Systems. For more information, please visit www.safetytubs.com
About 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.
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