Stanley seals the deal
January 6, 2005
NEW BRITAIN, Conn. - The Stanley Works has finalized its acquisition of the Security Group Inc., an organization that includes Sargent & Greenleaf, a lock manufacturer, and access control provider Safemasters.
The acquisition is the first the company has completed since announcing in late September its plans to grow the security division of its business.
The deal, valued at $56 million, increases StanleyÃ¢â‚¬â„¢s grasp in the federal government sector, which Safemasters has a strong presence in. On the other hand, Sargent & Greenleaf comes aboard with a strong business in the financial services arena - adding to the financial institution presence Stanley brought into its portfolio when it purchased Frisco Bay Industries, a systems integrator known for providing security services to banks, last year.