Bakers City arm advises on American Standard's Bain bath and kitchen sale
Six hundred Baker & McKenzie lawyers across more than 40 offices have advised on the $1.745bn (£832m) sale of American Standard's bath and kitchen products business and the wider separation of the company's operations.
November 14, 2007 at 08:32 PM
2 minute read
Six hundred Baker & McKenzie lawyers across more than 40 offices have advised on the $1.745bn (£832m) sale of American Standard's bath and kitchen products business and the wider separation of the company's operations.
The firm's London office led the project, in which American Standard listed its vehicle control systems business and sold its bath and kitchen business to Bain Capital Partners.
The company announced plans to separate its three businesses at the beginning of the year and the process was completed with the sale to Bain on 31 October. The company's third business, which focuses on air conditioning, will be renamed Trane.
London corporate partner Kirsty Wilson led the Bakers team assisted by senior associates Emma Milne and Emily Carlisle. American Standard is a longstanding client of the firm.
The transaction marks one of the London office's biggest projects of the year.
Bakers worked alongside Skadden Arps Slate Meagher & Flom New York corporate partner Eileen Nugent on the listing of the vehicle controls business on the New York Stock Exchange.
Kirkland & Ellis London corporate partner Sam Pakbaz advised Bain Capital.
American Standard's senior vice president and general counsel, Mary Beth Gustafsson, said: "We were not only selling a very large division, we were also separating three businesses that had been knitted together over many years. Baker & McKenzie's assistance in this regard was invaluable and facilitated an optimal outcome in record time."
Most of Bakers' biggest mandates in London so far this year have been in finance, with the office advising UBS and Banco Santander on $1bn (£477m)-plus deals.
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