Stanley Black & Decker buys Infastech
Stanley Black & Decker has agreed to acquire Infastech, a global manufacturer and distributor of specialty engineered fastening technologies headquartered in Hong Kong.
The cost of the transaction was $850 million in cash.
With revenues of approximately $500 million and more than 2,000 employees, Infastech designs, manufactures and distributes highlyâengineered fastening technologies and applications for customers in the industrial, electronics, automotive, construction and aerospace end markets. More than half of Infastech’s 2011 revenues were generated in the Asia-Pacific region. When combined with Emhart, Stanley Black & Decker’s engineered fastening platform, the business will generate close to 40% of its revenues from this high growth region.
The combined engineered fastening platform will generate approximately half of its revenues from automotive manufacturing, a third from industrial fastening applications and 20% from high growth verticals such as electronics. With the acquisition of Infastech, the engineered fastening platform will be the first of the company’s recently identified new growth platforms to achieve its mid-decade goal of $1 billion to $2 billion in revenue.
“Infastech is both a highly accretive acquisition and a perfect strategic fit for Stanley Black and Decker. It adds to our strong positioning in specialty engineered fastening, an industry which has solid growth prospects particularly in the global electronics, industrial and automotive end markets, and will further expand our global footprint with its strong concentration in fast-growing emerging markets," said president and chief executive officer John F. Lundgren.
INDUSTRIAL SUPPLY MAGAZINE
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