American Standard approves company name change
Shareholders of American Standard have approved an amendment to the company’s certificate of incorporation to change its name to “Trane.”
Trane is the company’s heating, ventilation and air conditioning business. In July, the company announced it would sell its iconic American Standard bath and kitchen business to Bain Capital Partners for $1.75 billion.
Bain Capital Partners is a global private investment firm – most recently, Bain Capital was one of four private investment firms to purchase Home Depot’s HD Supply unit.
Earlier, the company said it also would spin off its WABCO vehicle control business, in favor of focusing on the more well-known Trane HVAC business. The company still manufactures air conditioning systems under the American Standard brand.
Last year, the company’s HVAC business generated sales of $6.8 billion, according to the company.