Praxis Companies, LLC

Background

Praxis Companies, LLC, established in 1980 and headquartered in Savannah, Tennessee, is a leading manufacturer and marketer of plumbing equipment and bathware. The company specializes in producing acrylic and fiberglass bathtubs and shower units, catering to residential, assisted living, designer showroom, and commercial markets.

Key Strategic Focus

Praxis Companies focuses on delivering high-quality bathware solutions through its diverse product lines:

Aquarius Bathware™: Offers a comprehensive range of products, including AcrylX™ Applied Acrylic, Thermal Cast Acrylic, S3, and CenturyStone™ Solid Surface. This line serves residential, commercial, healthcare, senior living, and hospitality sectors.

Hamilton Bathware™: Provides similar offerings as Aquarius Bathware™, targeting the same market segments.

Comfort Designs™: Specializes in senior living and code-compliant products, featuring AcrylX™ Applied Acrylic, Thermal Cast Acrylic, and Solid Surface options. This line includes ADA-compliant and accessible bathware designs.

American Whirlpool™: Focuses on Thermal Cast Acrylic whirlpools, air tubs, and soakers, including the Destination Series and BathBay™ Walk-In Whirlpools and Tubs.

Financials and Funding

As of the latest available data, Praxis Companies operates as a private entity with an estimated annual revenue of approximately $12.9 million. The company employs around 57 individuals, with an estimated revenue per employee of $225,900.

Technological Platform and Innovation

Praxis Companies distinguishes itself through proprietary technologies and innovative methodologies:

AcrylX™ Applied Acrylic: A proprietary technology enhancing the durability and aesthetic appeal of bathware products.

Thermal Cast Acrylic: Utilized in the production of high-quality whirlpools and tubs, offering superior performance and longevity.

S3 and CenturyStone™ Solid Surface: Advanced materials providing robust and versatile solutions for various bathware applications.

Leadership Team

The executive team at Praxis Companies includes:

Fred Silverstein: Senior Vice President of Marketing and Sales, overseeing strategic marketing initiatives and sales operations.

Tony Ricketts: Chief Financial Officer, responsible for financial planning and management.

Scott Stonecipher: Vice President of Operations, managing the company's operational activities.

David Wells: Plant Manager, overseeing manufacturing processes and plant operations.

Competitor Profile

Market Insights and Dynamics

The bathware industry is characterized by steady demand across residential, commercial, and healthcare sectors. Key factors influencing the market include technological advancements, regulatory compliance, and evolving consumer preferences.

Competitor Analysis

Praxis Companies faces competition from several notable entities:

ASSA ABLOY Door Security Solutions: Provides door and hardware products for various facilities, including commercial and institutional sectors.

Anhui Conch Cement: A manufacturer of cement and cement products, contributing to the building materials industry.

WIENERBERGER: The world's largest producer of clay blocks and a leading supplier of facing bricks, clay roof tiles, pipe systems, and concrete pavers.

Kibing Group: Specializes in the development and production of glass products.

Strategic Collaborations and Partnerships

Praxis Companies has expanded its capabilities through strategic acquisitions:

Crane Plumbing (Fiberglass Bathware Manufacturing Facilities): Acquired in November 2005, enhancing manufacturing capacity.

American Whirlpool Products (Certain Assets): Acquired in October 2005, broadening the product portfolio.

Operational Insights

Praxis Companies leverages its proprietary technologies and diverse product lines to maintain a competitive edge. The company's focus on quality, innovation, and customer satisfaction positions it favorably in the bathware industry.

Strategic Opportunities and Future Directions

Looking ahead, Praxis Companies aims to capitalize on emerging market trends, including the growing demand for accessible and code-compliant bathware solutions. Continued investment in research and development, along with strategic partnerships, will be pivotal in driving future growth and market expansion.