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Ideal Standard is a privately held multinational
A new company, known as Ideal Standard International, was formed in 2007 by the sale of the bath and kitchen products businesses of
plumbing fixture
A plumbing fixture is an exchangeable device which can be connected to a plumbing system to deliver and drain water.
Common fixtures Supply
The most common plumbing fixtures are:
*Bathtubs
*Bidets
* Channel drains
* Drinking fountains
* Hose b ...
company headquartered in Belgium
Belgium, ; french: Belgique ; german: Belgien officially the Kingdom of Belgium, is a country in Northwestern Europe. The country is bordered by the Netherlands to the north, Germany to the east, Luxembourg to the southeast, France to ...
. It operates primarily in Europe and Latin America. The brand dates back to 1949, when it was used to brand fixtures of the foreign operations of the American Standard group. The "Ideal" name traces back to the "Ideal Boilers" brand used by the American Radiator Company
The American Radiator Company was established in 1892 by the merger of a number of North American radiator manufacturers. The company expanded in the early 20th century into Europe under the brand National Radiator Company.
In 1929, it amalgam ...
.
Overview
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
American Standard Companies 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 Stand ...
for $1.745 billion to Bain Capital Partners
Bain Capital is an American private investment firm based in Boston. It specializes in private equity, venture capital, credit, public equity, impact investing, life sciences, and real estate. Bain Capital invests across a range of industry se ...
. The North American and Asian operations of American Standard were sold to Sun Capital and Lixil Group
is a Japanese group of companies that manufactures building materials, plumbing fixtures and housing equipment, headquartered in Tokyo.
is one of the major Lixil companies. Most of Lixil's plumbing fixtures are sold under the brand. Other ...
respectively, with the European and Latin American operations retained as Ideal Standard.
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
Credit Suisse Group AG is a global investment bank and financial services firm founded and based in Switzerland. Headquartered in Zürich, it maintains offices in all major financial centers around the world and is one of the nine global " ...
and Bank of America
The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina. The bank ...
; the creditors subsequently struggled to dispose of their debt.
The restructuring program was complete in 2011, but the company was loss making in 2012 due to poor sales. In 2013 the company reduced its workforce by 250 due to poor sales; further restructuring was proposed in 2014, including a debt for equity swap with bondholder Anchorage Capital. In 2014 the EU competition commission approved Anchorage Capital becoming joint owner of the company together with Bain Capital.
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''.
See also
*Ideal House, London
Palladium House, formerly known as Ideal House is a grade II listed Art Deco office building located on the corner of Great Marlborough Street and Argyll Street in London.
History and description
The building was designed in by architects Raymo ...
*American Radiator Company
The American Radiator Company was established in 1892 by the merger of a number of North American radiator manufacturers. The company expanded in the early 20th century into Europe under the brand National Radiator Company.
In 1929, it amalgam ...
and Standard Sanitary Manufacturing Company
The original Standard Sanitary was formed when James West Arrott of James West Arrott Insurance company in Pittsburgh, Pennsylvania took over a bankrupt hooper company that could not pay their insurance premiums. Along with Francis Torrance (they ...
, predecessor companies
References
External links
{{Commons category, Ideal Standard International Bathroom fixture companies Private equity portfolio companies Companies based in Flemish Brabant Belgian brands Zaventem