Securitas provides timing update on Stanley deal
May 18, 2022 By SP&T Staff
The acquisition of Stanley Security is conditional upon regulatory approval and customary closing conditions and is now expected to close during the third quarter of 2022, according to Securitas.
Securitas first announced the acquisition of Stanley Black & Decker’s Electronic Security Solutions business for US$3.2 billion in December 2021.
In a press release, Securitas said that the regulatory approval processes, which were initially communicated to be expected to be finalized during the first half year of 2022, are still ongoing and it is now expected that the transaction will close during the third quarter of 2022.
“The acquisition of Stanley Security is transformational for both Securitas and the security industry, and we look forward to welcoming Stanley Security and all of its employees into the Securitas Group upon closing the transaction,” said Magnus Ahlqvist, president and CEO of Securitas, in a statement.
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