Wednesday, October 5

Tag: Stanley Black & Decker

Stanley Black & Decker Completes Sale of Security Business to Securitas AB for $3.2 Billion
Business

Stanley Black & Decker Completes Sale of Security Business to Securitas AB for $3.2 Billion

Transaction Further Focuses Stanley Black & Decker's Portfolio on its Core Businesses NEW BRITAIN, Conn., July 22, 2022 /PRNewswire/ -- Stanley Black & Decker (NYSE: SWK) today announced that it has completed the previously announced sale of most of its Security assets to Securitas AB (STO: SECU B) for $3.2 billion in cash. The sale includes Stanley Black & Decker's Commercial Electronic and Healthcare Security business lines ("Security"). 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 December 8, 2021. Donald Allan, Jr., Stanley Black & Decker's President & Chief Executive Officer, commented, "The completed sale of our Security business is another ma...