Standard Industries

{{Short description|American industrial company}}

{{Infobox company

| name = Standard Industries Holdings Inc.

| logo = Standard Industries logo.svg

| type = Private

| industry = Building materials

| hq_location_city = New York City

| hq_location_country = U.S.

| area_served = Worldwide

| key_people = David Winter (Co-CEO), David Millstone (Co-CEO)

| products = building materials
shingles
roofing systems
solar roofing systems
waterproofing systems
chemical aggregates
specialty granules

| owner =

| subsid = GAF
GAF Energy
BMI
Siplast
SGI
Schiedel
W. R. Grace and Company

| num_employees = 20,000+

| num_employees_year = 2021{{Cite web|url=https://www.businesswire.com/news/home/20210922005603/en/Standard-Industries-Completes-Acquisition-of-Grace|title=Standard Industries Completes Acquisition of Grace|date=22 September 2021}}

| parent =

| website = {{URL|standardindustries.com}}

}}

Standard Industries is an American privately-held global industrial conglomerate headquartered in New York City. Standard is the parent company of a number of industrial manufacturers, roofing and solar companies, and related real estate and investment platforms. David Millstone and David Winter are co-CEOs of the company.

Standard's operating companies include GAF, GAF Energy, W. R. Grace and Company,{{Cite web|url=https://www.baltimoresun.com/business/bs-bz-standard-grace-deal-final-20210922-7szcon2ljvh7dhflvly5iwu3oi-story.html|title=Standard Industries completes purchase of Columbia-based W.R. Grace & Co.|date=22 September 2021}} BMI Group, Siplast, Schiedel, and Speciality Granules (SGI), along with Standard Investments and Winter Properties.{{Cite web |title=Standard Industries to Buy Germany's Braas Monier for About $1.15 Billion |url=https://www.wsj.com/articles/standard-industries-to-buy-germanys-braas-monier-for-about-1-15-billion-1482103172 |last=Frankfurt |first=Ben Dummett in London and Natascha Divac in |date=2016-12-18 |website=Wall Street Journal |language=en-US |access-date=2020-05-12}}{{Cite web |title=The world's largest roofing company just launched a new solar startup |url=https://www.fastcompany.com/90292163/the-countrys-largest-roofing-company-just-launched-a-new-solar-startup |last=Peters |first=Adele |date=2019-01-15 |website=Fast Company |language=en-US |access-date=2020-05-12}}{{Cite web |title=David Millstone and David Winter: Putting the business before family|url=https://www.ft.com/content/c2c636b0-bda5-11e9-89e2-41e555e96722 |website=www.ft.com |access-date=2020-05-12|first=Andrew|last=Edgecliffe-Johnson}}

History

Standard Industries' origins date back to 1886, with the founding of the Standard Paint Company.{{Cite web |title=Solar Roofing Is The Focus Of Standard Industries' New GAF Energy Unit |url=https://cleantechnica.com/2019/01/19/solar-shingles-the-focus-of-new-gaf-energy-unit/ |last=Thurston |first=Charles |date=2019-01-19 |website=CleanTechnica |language=en-US |access-date=2020-05-13}}

In January 2016, Standard purchased the Danish company Icopal for about €1 billion.{{Cite web |title=Standard Industries makes $2.1 billion offer for Braas Monier |url=https://www.reuters.com/article/us-braas-monier-m-a-standard-industries-idUSKCN11L0GN |last=Uhlig |first=Patricia |date=2016-09-15 |website=Reuters |language=en |access-date=2020-05-13}} In December of the same year, the company acquired the German Braas Monier Building Group for €1.1 billion.

In January 2019, Standard launched GAF Energy, a solar company which aims to increase the installations of residential solar roofs by working with regional installers.

On April 26, 2021, W. R. Grace announced that they have entered into a definitive agreement with Standard Industries Holdings Inc. where Standard Industries Holdings will acquire Grace in an all-cash transaction valued at approximately $7 billion.{{cite web|url=https://reorg.com/standard-industries-holdings-to-acquire-grace/ |title=GRA/Standard Industries Holdings: Standard Industries Holdings to Acquire Grace in $7B All-Cash Transaction |publisher=Reorg |access-date =April 29, 2021}}

Operations

Standard Industries is led by co-CEOs David Millstone and David Winter. The company has more than 20,000 employees in over 80 countries.

=Operating companies=

GAF is the largest roofing company in North America which focuses on the manufacturing of roofing materials. Its projects include the Library of Congress and the Alamo.

BMI is a manufacturer of building materials and roofing accessories.{{Cite web |title=Braas Monier Sets IPO Price at €24 |url=https://www.wsj.com/articles/braas-monier-sets-ipo-price-at-24-1403633815 |last=Geiger |first=Friedrich |date=2014-06-24 |website=Wall Street Journal |language=en-US |access-date=2020-05-14}} It was formed in 2016 in the merger of Brass Monier and Icopal.{{Cite web |title=U.S. roofing maker GAF to acquire Denmark's Icopal |url=https://www.reuters.com/article/icopal-m-a-gaf-idUSKCN0V30D1 |last=Roumeliotis |first=Greg |date=2016-01-25 |website=Reuters |language=en |access-date=2020-05-14}}{{Cite web |title=TimesBraas Monier convinces Standard Industries to sweeten bid |url=https://www.ft.com/content/4db090de-c571-11e6-9043-7e34c07b46ef |last=McGee |first=Patrick |date=December 18, 2016 |website=www.ft.com |archive-url=https://archive.today/20200514164248/https://www.ft.com/content/4db090de-c571-11e6-9043-7e34c07b46ef |archive-date = May 14, 2020 |access-date=2020-05-14}} BMI’s projects include the Louvre, the Maria Taferl, and the Lego House in Denmark.{{Cite web |title=LEGO House / BIG |url=http://www.archdaily.com/880900/lego-house-big |date = October 3, 2017 |website=ArchDaily |language=en-US |access-date=2020-05-14}}{{Cite web |title=Icopal is honoured for its participation in the Building Project of the Year 2017 |url=http://www.icopal.dk/Hidden%20content/Presse/Aarets-Byggeri-2017-EN.aspx |date= December 8, 2017 }}

Siplast is a manufacturer of roofing and waterproofing systems.{{Cite web |title=Siplast Inc |url=https://www.bloomberg.com/profile/company/0010188D:US |website=www.bloomberg.com |access-date=2020-05-27}} Siplast's projects include the United Nations headquarters, the Library of Congress, the Metropolitan Museum of Art, the Washington DC Metro system, and the Jacob Javits Center.{{Cite web |title=Siplast International - references |url=http://www.siplast-international.com/references |website=www.siplast-international.com |access-date=2020-05-29}}

GAF Energy is a manufacturer of residential solar roofs. The company currently offers its solar product in nine states, including Massachusetts, Rhode Island, Connecticut, New York, New Jersey, Pennsylvania, Illinois, Florida, and California.{{Cite web |title=The world's largest roofing company just launched a new solar startup |url=https://www.fastcompany.com/90292163/the-countrys-largest-roofing-company-just-launched-a-new-solar-startup |last=Peters |first=Adele |date=2019-01-15 |website=Fast Company |language=en-US |access-date=2020-05-27}}{{Cite web |title=If You're Already Replacing Your Roof, Why Not Turn It Into A Power Plant? |url=https://www.forbes.com/sites/peterdetwiler/2019/10/16/if-youre-already-replacing-your-roof-why-not-turn-it-into-a-power-plant/ |last=Kelly-Detwiler |first=Peter |date=October 16, 2019 |website=Forbes |language=en |access-date=2020-05-14}}{{Cite web |title=Tesla Has a New Rival in Quest to Make Solar Rooftops Happen |url=https://www.bloomberg.com/news/articles/2019-03-16/tesla-has-a-new-rival-in-its-quest-to-make-solar-rooftops-happen |last=Eckhouse |first=Brian |date=March 16, 2019 |website=www.bloomberg.com |access-date=2020-05-14}}

Schiedel is a designer and manufacturer of chimney, stove, and ventilation systems in Europe.{{Cite web |title=Facts & Figures of Schiedel › Schiedel Company |url=https://www.schiedel.com/company/about-us/facts-figures/ |date=2016-06-02 |language=en-US |access-date=2020-05-29}}

Specialty Granules (SGI) is a North American aggregates and mining company.{{Cite web |title=From the Roof to the Road |url=http://rockproducts.com/features/18928-from-the-roof-to-the-road.html#.Xs7PSTpKiiN |last=Kuhar |first=Mark |date=26 September 2019 |website=rockproducts.com |access-date=2020-05-27}}

In September 2021, Standard announced the $7 billion acquisition of W. R. Grace & Co., an American specialty chemicals business headquartered in Columbia, Maryland.

Related businesses

=Standard Investments=

Standard’s related investment business, Standard Investments, is a fundamentally-based investment platform that takes concentrated long-term positions across a range of sectors and leverages industrial knowledge to create value for all stakeholders.{{cite news|title=Claroty Appoints Standard Investments' Peter Marturano to Board of Directors|date=October 14, 2021}} It is active in public equities, real estate, and venture capital.{{Cite web |title=40 North launches $200 mln venture capital effort |url=https://www.venturecapitaljournal.com/40-north-launches-200-mln-venture-capital-effort/ |last=Goldfisher |first=Alastair |date=2019-10-08 |website=Venture Capital Journal |language=en-US |access-date=2020-05-27}}

In July 2020, Standard Investments' venture capital firm (formerly 40 North Ventures) acquired investments in eleven of GE Ventures’ startups in industrial and technological sectors.{{cite web|url=https://www.forbes.com/sites/amyfeldman/2020/07/30/why-40-north-ventures-bought-ge-ventures-stakes-in-11-industrial-startups/#2396ced842c7|title=Why 40 North Ventures Bought GE Ventures' Stakes In 11 Industrial Startups|date=30 July 2020|website=Forbes}}{{cite web|url=https://www.axios.com/ge-ventures-portfolio-standard-industries-5b19d842-b01c-4cfe-a064-b251ea1a4c6f.html|title=GE selling more tech startup investments to 40 North|date=30 July 2020|website=Axios}}

=Winter Properties=

Winter Properties is a related business of Standard Industries that owns multiple properties in New York City and nationally.{{Cite web |title=Big change at Lakeshore East developer |url=https://www.chicagobusiness.com/commercial-real-estate/big-change-lakeshore-east-developer |last=Gallun |first=Alby |date=2019-12-11 |website=Crain's Chicago Business |language=en |access-date=2020-05-27}} Winter Properties’ holdings are a mix of commercial and residential properties.{{Cite web |title=Former head of Ping An's real estate arm joins Winter Properties |url=https://therealdeal.com/2018/09/17/former-head-of-ping-ans-real-estate-arm-joins-winter-properties/ |date=2018-09-17 |website=The Real Deal New York |language=en-US |access-date=2020-05-27}}

References

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