In a move to strengthen its position as a total project suppler, American Standard Brands merged with Decorative Panels International (DPI).
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.
“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, president and CEO of American Standard Brands. “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.”
Tim Clark, DPI’s CFO, has been appointed president of DPI and will report to Don Devine. 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, Ohio, and will remain in its current location. Its panels provide decorating solution in bathrooms and kitchens, in addition to other residential and commercial settings such as bedrooms, garages, stores and offices.
Terms of the merger were not disclosed.
The DPI merger comes after American Standard, Crane Plumbing and Eljer Plumbing in 2008, and three months after American Standard acquired Safety Tubs LLC, the second largest manufacturer and supplier of walk-in bathtubs.