An Affiliate of Sun Capital Partners Signs an Agreement to Acquire a Majority Interest in American Standard Americas, a Leading Manufacturer of Bath and Kitchen Products

Business Wire, Nov 21, 2007

BOCA RATON, Fla. -- Sun Capital Partners, Inc. ("Sun Capital"), a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies, today announced that one of its affiliates has signed an agreement to acquire a controlling interest in American Standard Americas ("American Standard"), a company recently formed by Bain Capital Partners ("Bain Capital") through its acquisition of the Global Bath and Kitchen business of American Standard Companies, Inc. (NYSE:ASD). Terms of the acquisition were not disclosed.

With an operating history of over 130 years, American Standard is one of the largest North American manufacturers of bath and kitchen products. The Company participates in all key product categories such as bathroom and kitchen faucets, fixtures, and furniture with leading positions in toilets and the number two position in bathroom fixtures in the U.S. and overall category leadership in Canada and the Dominican Republic. Products are marketed under such brand names as American Standard[R], Porcher[R], and Jado[R].

Bain Capital will retain a minority interest in American Standard. Bain Capital remains the majority owner of the American Standard International business, and no Sun Capital affiliate will be an investor in that company.

Jason A. Leach, Principal, Sun Capital Partners, Inc., said, "The strong brand equity of American Standard has enabled the Americas business to maintain its leading market share and longstanding customer relationships in North America during a challenging time in the industry. As a stand-alone entity, American Standard will be able to pursue its own strategic objectives including improved operating efficiencies, enhanced profitability, and investment in new product and brand offerings."

Leach added, "Sun Capital has significant industry knowledge and operating experience in the plumbing fixtures sector given the previous acquisitions of Crane Plumbing LLC and Eljer, Inc. by other Sun Capital affiliates, both of which are leading manufacturers and distributors of plumbing fixtures and specialty plumbing products for the residential and commercial construction, remodeling, and repair markets in North America."

Thomas V. Taylor, Managing Director, Sun Capital Partners, Inc., commented, "American Standard has an unrivaled portfolio of iconic global brands that compete across a range of price points and market segments. Strong innovation through the continuous introduction of new products has helped to establish brand differentiation and value. With broad geographic presence and regional manufacturing capabilities, American Standard offers an attractive base from which to drive further brand equity, strong customer relationships, and deeper penetration of the existing channels to market. I am looking forward to working with the management team and its dedicated associates in achieving its objectives of profitable growth."

Donald C. Devine, President and CEO, American Standard Americas, added, "We are pleased to have the financial and operating support of an affiliate of Sun Capital Partners and Bain Capital. Our new independent structure as American Standard Americas enables us to continue our focus on making American Standard the leading bath and plumbing company in North America."

About American Standard Americas

Headquartered in Piscataway, NJ, American Standard Americas is a leading manufacturer of bath and kitchen products, including: fixtures, faucets and fittings; kitchen, bathing and wellness products; and bathroom furniture and accessories which are marketed under the American Standard[R], Porcher[R], and Jado[R] brands. American Standard delivers products to a wide range of customers in both residential and commercial markets and for new construction and replacement/remodeling. The network includes wholesalers (including showrooms), retailers (including do-it-yourself centers), and specialty merchants.

Recent innovations include faucets with easy-to-install drains; toilets with powerful and efficient flushing mechanisms; anti-microbial glazes; a variety of jetted tubs with features such as flat jets, proprietary deep-soak overflow drains, luxurious massage features; and integrated sauna, steam bath, and showering units.

American Standard operates eight facilities employing approximately 7,500 associates. For more information, please visit www.americanstandard-us.com.

About Sun Capital Partners, Inc.

Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in market-leading companies that can benefit from its in-house operating professionals and experience. Sun Capital affiliates have invested in and managed more than 170 companies worldwide with combined sales in excess of $35.0 billion since Sun Capital's inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates with offices in London, Tokyo, and Shenzhen. For more information, please visit www.SunCapPart.com.