March 30 - American Standard Sells British Plumbing Unit
American Standard Cos. sold a small part of its global bath and kitchen business for $165 million.
Venesta Bathroom Systems supplies cubicles, vanity units and pre-plumbed systems to the commercial market throughout the United Kingdom and had sales of $62 million last year.
Buyer RS Building Products is a private equity company established last November to acquire companies in the commercial washrooms market.
Last February, American Standard announced that it would sell its $2.4 billion Bath and Kitchen division. Company spokesman Skip Colcord said that while the company may have preferred to sell the whole division to one buyer, it would continue to look for buyers for the rest of the business as part of a plan to separate American Standard into three separate companies.