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Infastech Acquisition Completes
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2013-05-20
Stanley Black & Decker confirmed successful completion of its acquisition of Infastech from CVC Capital Partners and Standard Chartered Private Equity Limited for US$850 million in cash. The transaction was originally announced in July 2012. Infastech is one of the largest Asia-based global players in the specialized mechanical fastener market; designing, manufacturing and distributing highly-engineered fastener technologies to a diverse blue-chip customer base in the industrial, automotive, construction and aerospace end markets. Infastech has revenues of approximately US$580 million and employs 2,000. More than half of the revenues are generated in the Asia-Pacific region, contributing to a Stanley Black & Decker objective of obtaining more than 20% of overall group revenues from emerging markets by the middle of the decade.
Infastech, which includes Avdel®, ELCO® and iForm® brands, merges with Emhart Teknologies to form Stanley Engineered Fastening with 5,000 employees in 150 countries. Stanley Black & Decker says that following the acquisition its engineered fastening platform will have annual revenues of around US$1.5 billion, with approximately half that revenue deriving from the automotive sector, a third from industrial fastening applications and 20% from “high growth verticals such as electronics”. Stanley Black & Decker expects the transaction to result in annual cost savings of approximately US$25 million by 2015.
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news provided by Fastener + Fixing Magazine (www.fastenerandfixing.com) arranged by Fastener World Inc.

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