The business is being sold by private equity groups CVC Capital Partners Ltd and Standard Chartered Private Equity Ltd. Stanley Black & Decker expects to close the transaction during the final quarter of this year provided that regulators see no reason to object and other standard conditions are satisfied.
Infastech specialises in engineered mechanical fasteners and is one of the biggest players on the market. The company employs more than 2,000 people and generates revenues of about USD500m. The acquisition is expected to deliver annual savings of some USD25m within three years after completion.
John F. Lundgren, president and CEO of Stanley Black & Decker, noted that the acquisition was a perfect fit in strategic terms besides being a highly accretive one. It will strengthen the company’s position in the speciality engineered fastening segment, where Stanley Black & Decker sees considerable growth potential, especially in the electronics, industrial and automotive end markets.