Dormakaba will acquire certain mechanical security businesses from Stanley Black & Decker for $725 million, the company announced.
The transaction will encompass Stanley Commercial Hardware, spanning mainly across North America and including a production facility in Taiwan, as well as GMT in China.
“This transaction builds on the Dormakaba merger, which boosted our global market position, and the recently completed Mesker acquisition, which will expand our North American offering to cover all essential door components including manual doors,” says Riet Cadonau, CEO of Dormakaba. “Now with this unique strategic opportunity to acquire Stanley Commercial Hardware, we will add substantial scale, becoming a top-three provider in the attractive North American market that can offer the full portfolio of door hardware and access control solutions to our customers.”
The transaction is expect to be complete in the first quarter of 2017.