Ideal Standard

{{short description|Multinational bathroom, sanitary ware and plumbing fixture company.}}

{{Infobox company

| name = Ideal Standard International SA

| logo = Ideal Standard 2017.svg

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| industry = Manufacturing

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| foundation = 1901 (as Ideal Standard)
2007 (as Ideal Standard International)

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| location_city = Brussels

| location_country = Belgium

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| brands = Ideal Standard, Armitage Shanks, Porcher, Vidima, American Standard

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| owner = {{ubl|Villeroy & Boch {{smaller|(2024–present)}}}}

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| homepage = {{url|idealstandard.com}}

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Image:Idealstandardlogo.svg

File:Paolo Monti - Servizio fotografico (Milano, 1965) - BEIC 6355830.jpg for Ideal Standard, {{c.|1954}}. Photo by Paolo Monti.]]

Ideal Standard is a privately held multinational plumbing fixture company headquartered in Belgium.

Operating primarily in Latin America and Europe, the brand dates back to 1949, when it was used to brand fixtures of the foreign operations of the American Standard group.{{citation| url = http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:61993CC0009| title = Opinion of Mr Advocate General Gulmann - IHT Internationale Heiztechnik GmbH and Uwe Danzinger v Ideal-Standard GmbH and Wabco Standard GmbH. | date =9 February 1994| work = European Courts Reports}} The "Ideal" name traces back to the "Ideal Boilers" brand used by the American Radiator Company.{{citation| title = Ideal Boilers, American Radiators| type = Catalogue| publisher = American Radiator Company| year = 1902}}{{citation| url = https://books.google.com/books?id=PW9IAAAAYAAJ&dq=%22ideal+boilers%22&pg=RA2-PA83| title = (American Radiator Company)|journal = Everybody's Magazine| year = 1918| volume = 38| type=Adverts|pages = 69, 71, 83}}

Overview

{{For|histories of the French, German, and English operations of the Ideal Standard group|American Radiator Company#Europe}}

A new company, known as Ideal Standard International, was formed in 2007 by the sale of the bath and kitchen products businesses of American Standard Companies for $1.745 billion to Bain Capital Partners.{{cite web| url=http://ir.americanstandard.com/ReleaseDetail.cfm?ReleaseID=272232| title = American Standard Companies Announces Completion of Sale of Bath and Kitchen Business to Bain Capital| type = press release| archive-url = https://web.archive.org/web/20090505165733/http://ir.americanstandard.com/ReleaseDetail.cfm?ReleaseID=272232| archive-date = 5 May 2009| date = 31 Oct 2007}} The North American and Asian operations of American Standard were sold to Sun Capital and Lixil Group respectively, with the European and Latin American operations retained as Ideal Standard.{{cite web| url=https://www.wsj.com/news/articles/SB10001424127887323419604578573121801745426| title = Japanese Toilet Maker Lixil Buys American Standard| work = online.wsj.com| date = 28 June 2013| first = James R.| last = Hagerty| quote = The more than century-old American Standard was sold in 2007 to a Bain Capital Partners LLC fund for $1.76 billion. Bain sold the North American part of the business to Sun Capital for about $130 million and later sold the Asian business to Lixil, then known as JS Group, while retaining the European and Latin American operations, known as Ideal Standard.}}

The company was then restructured, implementing cost-cutting measures, as well as moving some of company's production facilities to Asia and Eastern Europe – a new production site was opened in Bulgaria. The acquisition by Bain Capital was facilitated by Credit Suisse and Bank of America; the creditors subsequently struggled to dispose of their debt.{{cite web |last1=Haffenden |first1=Chris |first2=Adelene |last2=Lee |url=http://www.ft.com/cms/s/2/174dabc0-1558-11de-b9a9-0000779fd2ac.html#axzz29IeIFsIW |archive-url=https://ghostarchive.org/archive/20221211221217/https://www.ft.com/content/174dabc0-1558-11de-b9a9-0000779fd2ac#axzz29IeIFsIW |archive-date=2022-12-11 |url-access=subscription |url-status=live |title=Ideal Standard sponsor Bain hires financial adviser as 2007 LBO falters |publisher=FT.com |date=20 March 2009 |access-date=2012-10-14 }}

The restructuring program was complete in 2011, but the company was loss making in 2012 due to poor sales.{{cite web| url = https://www.reuters.com/article/fitch-downgrades-ideal-standard-internat-idUSFit65710120130508| title = RPT-Fitch Downgrades Ideal Standard International SA to 'CC'| date = 8 May 2013| website = reuters.com}} In 2013 the company reduced its workforce by 250 due to poor sales;{{cite web| url = http://www.kbbdaily.com/article.php?id=1796&t=Bathrooms+%26+Money+Matters| title = Ideal Standard to cut 250 jobs across Europe as it looks to 'restructure cost base'| date = 20 November 2013| website = kbbdaily.com| access-date = 10 June 2014| archive-date = 8 March 2016| archive-url = https://web.archive.org/web/20160308215952/http://kbbdaily.com/article.php?+money+matters&id=1796&t=bathrooms+| url-status = dead}} further restructuring was proposed in 2014, including a debt for equity swap with bondholder Anchorage Capital.{{cite web| url=https://www.bloomberg.com/news/2014-05-02/bain-s-ideal-standard-said-to-offer-new-terms-for-restructuring.html| title =Bain's Ideal Standard Said to Offer New Terms for Restructuring |first = Luca |last = Casiraghi| date = 2 May 2014| website = bloomberg.com}} In 2014 the EU competition commission approved Anchorage Capital becoming joint owner of the company together with Bain Capital.{{cite web| url=http://ec.europa.eu/competition/elojade/isef/case_details.cfm?proc_code=2_M_7206| title = M.7206 BAIN CAPITAL / ANCHORAGE CAPITAL / IDEAL STANDARD | publisher = EU Competition Commission| date = 20 March 2014}}

Products

{{As of|2014}} the company was headquartered in Belgium, and had over 10,000 employees. Its products include bathroom fittings including bathrooms, sanitary ware, and showers, sold under brands including Armitage Shanks, Ceramica Dolomite, Porcher, and Vidima.{{cite web| url =http://www.idealstandardinternational.com/about-us/aboutthecompany/| archive-url =https://web.archive.org/web/20150924032724/http://www.idealstandardinternational.com/about-us/aboutthecompany/| url-status =dead| archive-date =2015-09-24| title = About the Company| website = idealstandardinternational.com| access-date = 2015-09-24}}

Acquisition

In September 2023, it was announced Ideal Standard had been acquired by the Mettlach-headquartered ceramics manufacturer, Villeroy & Boch for €600 million.{{Cite web |title=Villeroy & Boch Acquires Ideal Standard |url=https://www.insightdiy.co.uk/news/villeroy--boch-acquires-ideal-standard/12843.htm |access-date=2023-09-19 |website=www.insightdiy.co.uk}} The transaction was completed in March 2024.{{Cite web|url=https://www.tradearabia.com/news/IND_419551.html|title=Villeroy & Boch completes acquisition of Ideal Standard |work=Trade Arabia|access-date=2024-03-06|language=en}}