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

December 22, 2016Spencer Ives

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.dormakaba also recently acquired Mesker Openings Group, a U.S.-based commercial door and hardware company, for $142.5 million....

dormakaba, James M. Loree, Riet Cadonau, Stanley Black & Decker