Bain Capital has completed its acquisition of the Bath and Kitchens products business of American Standard Companies Inc. (NYSE: ASD). The total deal was valued at just under $1.76 billion, with Bank of America and Credit Suisse providing leveraged financing. Lazard advised ASD on the sale, while Bain was being advised by Lehman Brothers.
American Standard Companies Inc. (NYSE:ASD) today announced completion of the sale of its global Bath and Kitchen products business to funds advised by Bain Capital Partners, LLC, a leading private investment firm, for $1.745 billion including closing adjustments. A definitive sales agreement had been announced on July 23, 2007.
The Bath and Kitchen products business had 2006 sales of $2.4 billion, 26,000 employees and production facilities in 23 countries worldwide. The business manufactures and markets industry-leading products under brand names such as American Standard