LIXIL’s global operations are present in more than 30 countries. In North America, Permasteelisa Group, a high-end curtain wall contractor owned by LIXIL Group, has existing revenues of approximately 30 billion JPY. The addition of American Standard will provide LIXIL with greater scale and more opportunities in North America, and will continue the growth of the international business towards its mid-term goals.
Yoshiaki Fujimori, President of LIXIL Corporation, 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 JPY sales revenue in its international businesses, with the goal for the international business to grow to approximately 30% of total LIXIL Group revenues. American Standard will serve as a key platform for LIXIL as we continue to fulfill our ambitions to become a worldwide leader in the building materials and housing equipment market. LIXIL already owns the American Standard brand in the Asia Pacific market, and this transaction will strengthen the brand and the company’s considerable manufacturing capabilities and technological best practices.”
“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, and I believe these will help the company maintain our position as a market leader.”
“The market leadership that American Standard enjoys today has been fueled by considerable operational improvements, an expanded product platform achieved through four strategic acquisitions, and a commitment to innovation,” said Marc Leder, Co-CEO at Sun Capital, a leading private investment firm specializing in leveraged buyouts and investments in market–leading companies. “I expect LIXIL will continue to invest in these strategies, and that the combined technology and product development capabilities of American Standard and LIXIL will ensure significant progress in the years ahead.”