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Standard Industries

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Standard Industries
Company typeParent company
IndustryBuilding materials
Headquarters
New York City
,
United States
Area served
Worldwide
Key people
David Winter (Co-CEO), David Millstone (Co-CEO)
Productsbuilding materials
shingles
roofing systems
solar roofing systems
waterproofing systems
chemical aggregates
specialty granules
Number of employees
20,000+ (2021[1])
SubsidiariesGAF
GAF Energy
BMI
Siplast
SGI
Schiedel
W. R. Grace and Company
Websitewww.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.[2] David Millstone and David Winter are co-CEOs of the company.[2]

Standard's operating companies include GAF, GAF Energy, W. R. Grace and Company,[3] BMI Group, Siplast, Schiedel, and Speciality Granules (SGI), along with Standard Investments and Winter Properties.[4][5][2]

History

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Standard Industries' origins date back to 1886, with the founding of the Standard Paint Company.[6]

In January 2016, Standard purchased the Danish company Icopal for about €1 billion.[7] In December of the same year, the company acquired the German Braas Monier Building Group for €1.1 billion.[4]

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.[5]

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.[8]

Operations

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Standard Industries is led by co-CEOs David Millstone and David Winter.[2] The company has more than 20,000 employees in over 80 countries.[1]

Operating companies

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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.[2]

BMI is a manufacturer of building materials and roofing accessories.[9] It was formed in 2016 in the merger of Brass Monier and Icopal.[10][11] BMI’s projects include the Louvre, the Maria Taferl, and the Lego House in Denmark.[12][13]

Siplast is a manufacturer of roofing and waterproofing systems.[14] 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.[15]

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.[16][17][5][18]

Schiedel is a designer and manufacturer of chimney, stove, and ventilation systems in Europe.[19]

Specialty Granules (SGI) is a North American aggregates and mining company.[20]

In September 2021, Standard announced the $7 billion acquisition of W. R. Grace & Co., an American specialty chemicals business headquartered in Columbia, Maryland.[3]

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Standard Investments

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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.[21] It is active in public equities, real estate, and venture capital.[22]

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.[23][24]

Winter Properties

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Winter Properties is a related business of Standard Industries that owns multiple properties in New York City and nationally.[25] Winter Properties’ holdings are a mix of commercial and residential properties.[26]

References

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  1. ^ a b "Standard Industries Completes Acquisition of Grace". 22 September 2021.
  2. ^ a b c d e Edgecliffe-Johnson, Andrew. "David Millstone and David Winter: Putting the business before family". www.ft.com. Retrieved 2020-05-12.
  3. ^ a b "Standard Industries completes purchase of Columbia-based W.R. Grace & Co". 22 September 2021.
  4. ^ a b Frankfurt, Ben Dummett in London and Natascha Divac in (2016-12-18). "Standard Industries to Buy Germany's Braas Monier for About $1.15 Billion". Wall Street Journal. Retrieved 2020-05-12.
  5. ^ a b c Peters, Adele (2019-01-15). "The world's largest roofing company just launched a new solar startup". Fast Company. Retrieved 2020-05-12.
  6. ^ Thurston, Charles (2019-01-19). "Solar Roofing Is The Focus Of Standard Industries' New GAF Energy Unit". CleanTechnica. Retrieved 2020-05-13.
  7. ^ Uhlig, Patricia (2016-09-15). "Standard Industries makes $2.1 billion offer for Braas Monier". Reuters. Retrieved 2020-05-13.
  8. ^ "GRA/Standard Industries Holdings: Standard Industries Holdings to Acquire Grace in $7B All-Cash Transaction". Reorg. Retrieved April 29, 2021.
  9. ^ Geiger, Friedrich (2014-06-24). "Braas Monier Sets IPO Price at €24". Wall Street Journal. Retrieved 2020-05-14.
  10. ^ Roumeliotis, Greg (2016-01-25). "U.S. roofing maker GAF to acquire Denmark's Icopal". Reuters. Retrieved 2020-05-14.
  11. ^ McGee, Patrick (December 18, 2016). "TimesBraas Monier convinces Standard Industries to sweeten bid". www.ft.com. Archived from the original on May 14, 2020. Retrieved 2020-05-14.
  12. ^ "LEGO House / BIG". ArchDaily. October 3, 2017. Retrieved 2020-05-14.
  13. ^ "Icopal is honoured for its participation in the Building Project of the Year 2017". December 8, 2017.
  14. ^ "Siplast Inc". www.bloomberg.com. Retrieved 2020-05-27.
  15. ^ "Siplast International - references". www.siplast-international.com. Retrieved 2020-05-29.
  16. ^ Peters, Adele (2019-01-15). "The world's largest roofing company just launched a new solar startup". Fast Company. Retrieved 2020-05-27.
  17. ^ Kelly-Detwiler, Peter (October 16, 2019). "If You're Already Replacing Your Roof, Why Not Turn It Into A Power Plant?". Forbes. Retrieved 2020-05-14.
  18. ^ Eckhouse, Brian (March 16, 2019). "Tesla Has a New Rival in Quest to Make Solar Rooftops Happen". www.bloomberg.com. Retrieved 2020-05-14.
  19. ^ "Facts & Figures of Schiedel › Schiedel Company". 2016-06-02. Retrieved 2020-05-29.
  20. ^ Kuhar, Mark (26 September 2019). "From the Roof to the Road". rockproducts.com. Retrieved 2020-05-27.
  21. ^ "Claroty Appoints Standard Investments' Peter Marturano to Board of Directors". October 14, 2021.
  22. ^ Goldfisher, Alastair (2019-10-08). "40 North launches $200 mln venture capital effort". Venture Capital Journal. Retrieved 2020-05-27.
  23. ^ "Why 40 North Ventures Bought GE Ventures' Stakes In 11 Industrial Startups". Forbes. 30 July 2020.
  24. ^ "GE selling more tech startup investments to 40 North". Axios. 30 July 2020.
  25. ^ Gallun, Alby (2019-12-11). "Big change at Lakeshore East developer". Crain's Chicago Business. Retrieved 2020-05-27.
  26. ^ "Former head of Ping An's real estate arm joins Winter Properties". The Real Deal New York. 2018-09-17. Retrieved 2020-05-27.
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