Stanley Black & Decker completes sale of Security business
Stanley Black & Decker has completed the sale of most of its Security assets to Securitas AB for $3.2 billion in cash.
The sale includes Stanley Black & Decker's Commercial Electronic and Healthcare Security business lines. Net proceeds from the sale are expected to fund debt reduction and the $2.3 billion share repurchase completed in the first quarter. This transaction was announced on Dec. 8, 2021.
"The completed sale of our Security business is another major milestone in creating a more focused Stanley Black & Decker, leveraging our leadership position in Tools and Outdoor, as well as our highly engineered Industrial business," said Donald Allan Jr., Stanley Black & Decker's president and CEO.
Security generated approximately $1.6 billion in revenue in 2021 with adjusted EBITDA margin in the low double-digits, implying a purchase price of approximately 16 times trailing adjusted EBITDA, which reflects the successful transformation of the business over the last several years.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
