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Dormakaba closes Stanley deal
Dormakaba announced it has completed the acquisition of certain mechanical security businesses from Stanley Black & Decker. The transaction is effective Feb. 22, following satisfaction of customary closing conditions including the receipt of all necessary regulatory approvals. Dormakaba originally announced the acquisition last December.
February 24, 2017 By SP&T Staff
According to the company, completion of the acquisition moves Dormakaba “from a distant four to a strong number three player in the attractive North American market that can offer the full portfolio of door hardware and access control solutions to customers.”
The acquisition includes Stanley Commercial Hardware based mainly across North America and a production facility in Taiwan, as well as GMT in China. Operational integration of the businesses is expected to take up to three years.
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