Deals
Stanley’s $1.95 Billion Tool Deal Heralds Return to M&A Hunt
- Former serial acquirer ends its self-imposed ban on purchases
- Construction gains make fragmented tool industry a ripe target
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Stanley Black & Decker Inc. returned to deal-making with a bang this week by agreeing to buy Irwin hammers and Lenox saw blades as part of a $1.95 billion transaction. That may only be the start.
The deal ended a self-imposed moratorium on acquisitions that lasted almost three years as the tool giant looked to repay debt and improve operations. Now Stanley, once a serial acquirer of smaller companies, is poised to lead a wave of deals in the fragmented tool industry.