Sun Capital exits US-based ASB to Japan's Lixil
Sun Capital Partners has exited its stake in American Standard Brands (ASB), a US maker of bathroom and kitchen fixtures, to Japanese toilet manufacturer Lixil Corp. for $542 million. The deal values the 138 year-old firm at around $342 million and includes the assumption of $200 million in debt.
On completion of deal, which still requires regulatory approval, American Standard will remain headquartered in the US, and continue to operate all its existing facilities. The company was sold to a...
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