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Stanley Black & Decker agrees to sell mechanical security businesses for $725m

dormakaba to purchase BEST Access, phi Precision and GMT
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12/22/2016

NEW BRITAIN, Conn.—Stanley Black & Decker yesterday announced that it has entered into a definitive agreement to sell the majority of its mechanical security businesses, including commercial hardware brands BEST Access, phi Precision and GMT to access and security solution provider dormakaba for $725 million in cash. The deal is subject to customary regulatory approvals.