Stanley angles for Blick Plc

SSN Staff  - 
Thursday, January 1, 2004

NEW BRITIAN, Conn. - Tool maker Stanley Works in mid-December proposed buying Britian’s Blick Plc for $165 million in a deal that would give Stanley Works a presence in Europe.

Blick’s board of directors have approved Stanley Works’ offer, with the deal expected to close during the first quarter of 2004.

If completed, the transaction advances Stanley Works’ plans to reposition its business portfolio, with a greater emphasis on the security and tool group. In 2002, the company bought Best Access Corp., a manufacturer of access control products with its own installation arm.

Blick makes security, communication and time management systems and reports annual sales of $120 million.