Standard Industries

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 Industries
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'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

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

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

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]

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.[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

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
  1. "Standard Industries Completes Acquisition of Grace". 22 September 2021.
  2. Edgecliffe-Johnson, Andrew. "David Millstone and David Winter: Putting the business before family". www.ft.com. Retrieved 2020-05-12.
  3. "Standard Industries completes purchase of Columbia-based W.R. Grace & Co". 22 September 2021.
  4. 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. 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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