Bain Capital cleared in American Standard buyout
Investment firm Bain Capital Partners has received a green light in its buyout of the bath and kitchen products business of American Standard.
The investment firm purchased the American Standard assets for $1.76 billion. The purchase was cleared this week by the European Union’s merger review commission.
The sale allowed American Standard to spin off its second of three divisions, following the sale of its vehicle control systems business earlier this year.
American Standard is sticking to its core business – Trane air conditioners and related products – and has agreed to change its official name to “Trane.”
Bain Capital Partners, along with Carlyle Group and Clayton, Dubilier and Rice, also recently purchased Home Depot’s HD Supply unit for $8.5 billion.
Whirlpool plans 100-year celebration of Maytag
Maytag will host a 100th “birthday party” event this month at Chicago’s Museum of Science and Industry, featuring a consumer laundry exhibit, Maytag antiques and other historical items on display.
Maytag, acquired last year by Whirlpool, saw its first washing machine built and sold in 1907 by Frederick Louis Maytag, who owned a farm-implement company. The first model was called the “Pastime.”
As part of the event, which is free and open to the public, the first 100 visitors will receive $100 gift cards to Home Depot. Additionally, the newly selected “Maytag Repairman,” Clay Jackson, and NBC Today Show weatherman Willard Scott will greet guests at the event.
The event is slated for Oct. 13 from 9:30 a.m. to 4 p.m.
Benjamin Moore to expand distribution center in Pell City
Paint maker Benjamin Moore will expand its distribution facility in Pell City, Ala., according to the [Talladega County, Ala.] Daily Home newspaper.
The company is planning a 100,000-square-foot addition to its 128,000-square-foot warehouse in the city, with construction of the first phase expected to be complete by next year.
The plant will expand from its current 800,000-gallon capacity to 1.5 million gallons. The facility is expected to further expand over the next 10 years.
Benjamin Moore, a Berkshire Hathaway company, manufactures paint, coatings and sundries under the Benjamin Moore, Moore’s and Moorcraft brands.