Stanley Black & Decker

Stanley Black & Decker, Inc.

Company type	Public
Industry	Industrial tools, household hardware, security solutions
Founded	2010 (merger of The Stanley Works and Black & Decker)
Headquarters	New Britain , United States
Key people	Donald Allan Jr. (CEO)
Products	Power tools, hand tools, fastening systems, outdoor equipment, security solutions

Stanley Black & Decker, Inc., previously known as The Stanley Works, stands as a prominent American producer of industrial tools and household hardware, also offering a range of security solutions. Based in New Britain, Connecticut, the enterprise was formed through the 2010 merger between The Stanley Works and Black & Decker. This merger significantly broadened its product lineup and market presence, establishing the company as a key contender in the manufacturing sector.

History

The origins of The Stanley Works trace back to 1920 when Stanley's Bolt Manufactory, established by Frederick Trent Stanley in 1843, combined with the Stanley Rule and Level Company, which his cousin Henry Stanley founded in 1857. The company grew its offerings notably by acquiring DeWalt in 1960, a brand later sold to Black & Decker.

On March 12, 2010, the merger of Black & Decker with Stanley Works resulted in the creation of Stanley Black & Decker, with Stanley Works becoming a fully owned subsidiary. During the Second World War, the firm received the Army-Navy "E" Award for outstanding war production efforts, highlighting its vital role in wartime manufacturing.

In 2002, Stanley Works contemplated relocating its headquarters to Bermuda but ultimately remained incorporated in the United States after facing opposition from government entities and public stakeholders.

Leadership changes include John F. Lundgren assuming the roles of chairman and CEO in 2004, succeeding John Trani, who had been mentored by Jack Welch at General Electric. Under Lundgren’s leadership, the Hardware & Home Improvement Group—which included brands such as Kwikset, Weiser, Baldwin, National Hardware, Stanley, FANAL, Pfister, and EZSET—was sold to Spectrum Brands Holdings in December 2012.

In July 2016, James M. Loree was promoted from President and COO to CEO, guiding the company through further expansion and strategic development. Loree stepped down in July 2022, with Donald Allan Jr., then President and CFO, appointed as CEO to emphasize financial expertise and strategic management going forward.

Acquisitions

• 1937: Entered UK market by acquiring Sheffield-based J.A. Chapman.
• 1946: Acquired North Brothers Manufacturing Company located in Philadelphia, Pennsylvania.
• 1963: Initiated Australian operations as Stanley-Titan by purchasing a half stake in Titan, a subsidiary of BHP.
• 1966: Purchased Vidmar Cabinets situated in Allentown, Pennsylvania.
• 1970: Through Stanley-Titan, acquired Turner Tools based in Melbourne, Australia.
• 1980: Added Mac Tools to its portfolio via acquisition.
• 1984: Bought Proto from Ingersoll Rand and rebranded it as Stanley Proto.
• 1986: Acquired Bostitch from Textron.
• 1990: Expanded by acquiring Goldblatt and ZAG Industries; also took over Sidchrome Tool Co. in Melbourne with manufacturing shifted to Taiwan by 1996.
• 1992: Purchased Monarch Mirror Door Co., specializing in sliding and folding mirror doors in Chatsworth, California.
• 2000: Acquired Blick of Swindon, England—a UK security and communications integrator—and CST Berger.
• 2002: Bought Best Access Systems of Indianapolis for $310 million; this acquisition led to forming an Access Controls Group that included Blick.
• 2004: Announced acquisitions of Canadian security integrator Frisco Bay Industries for $45.3 million and Washington D.C.-based ISR Solutions.
• 2005: Expanded by acquiring Security Group (including Sargent & Greenleaf locks and Safemasters services), Precision Hardware, and Facom of France for $500 million.
• 2006: Enhanced security offerings by acquiring HSM Electronic Protection Systems following Honeywell’s divestiture; secured contracts related to NASA spaceflight centers.
• 2007: Purchased OSI Security from Chula Vista, California, known for wireless lock technology serving government and healthcare clients.
• 2008: Acquired Beach Toolbox Industries (Canada), later closing its plant; also added Sonitrol (audio-based intrusion detection) and Xmark Corporation (RFID solutions for healthcare); consolidated many security units under the HSM brand.
• 2009: Announced a $4.5 billion merger with Black & Decker; finalized in March 2010 forming Stanley Black & Decker.
• 2010: Acquired CRC-Evans Pipeline International to strengthen pipeline construction equipment offerings.
• 2011: Completed acquisition of Niscayah to broaden security service capabilities.
• 2012: Added Lista North America (tool storage), Powers Fasteners (industrial fasteners), and AeroScout (asset tracking technology) through acquisitions.
• 2016: Purchased Irwin, Lenox, and Hilmor tool brands from Newell Brands for $1.95 billion to reinforce hand tool segment.
• 2017: Announced acquisition of Craftsman brand from Sears Holdings subsidiary KCD for an initial payment of $525 million plus contingent payments based on sales over 15 years.
• 2018: Invested $234 million for a 20% stake in MTD Products Inc., a global outdoor power equipment manufacturer; obtained option to acquire remaining shares starting 2021; also acquired International Equipment Solutions Attachments Group for $690 million.
• 2020: Agreed to purchase Consolidated Aerospace Manufacturing (CAM) for up to $1.5 billion to expand aerospace and defense fastener capabilities.
• 2021: Completed full acquisition of MTD Holdings Inc.; acquired Excel Industries—manufacturer of commercial turf-care brands Hustler Turf Equipment and BigDog Mower Co.—for $375 million; divested electronic security business unit to Securitas AB for $3.2 billion.
• 2022: Executed workforce reductions exceeding 1,000 corporate employees as part of cost-cutting efforts amid declining stock prices.

Power tools

• DeWalt – manufacturer of power tools; integrated in 1960
• Guoqiang (GQ) Tools (China) – producer of power tools
• Porter-Cable – provider of power tools; acquired in 2004
• Oldham Saw Company – specializes in circular saw blades and wood router bit products; acquired in 2004
• Black+Decker – merged with the company in 2010
• Craftsman – obtained from Sears KDCP in 2016

Hand tools and storage

• Pastorino – hand tools for carpentry and construction
• Stanley Hand Tools – hand tools focused on carpentry and construction
• Craftsman
• Irwin Industrial Tools
• LENOX Tools
• Expert – tools for industrial and automotive use
• Facom (France) – professional-grade tools; acquired in 2006 (includes Britool)
• Lista North America – provider of industrial storage solutions; purchased in 2012
• Mac Tools – professional tool brand; acquired in 1980
• Proto – industrial hand tool manufacturer; acquired in 1984
• Blackhawk – mechanic’s tool line; obtained in 1986
• Sidchrome (Australia/New Zealand) – mechanics’ tools; acquired in 1990
• USAG (Italy) – maker of professional tools; acquired in 2010
• Vidmar – industrial storage systems; acquired in 1966
• Virax (France) – plumbing tool brand; acquired in 2006
• Waterloo Industries – supplier of tool storage solutions, acquired in 2017; brand discontinued shortly thereafter

Fastening and accessories

• Bostitch – fastening equipment; acquired in 1986
• Powers Fasteners – supplier of adhesive and mechanical anchoring products

Outdoor

• Cub Cadet
• Hustler
• Troy-bilt
• Rover
• MTD

Cribmaster

• Cribmaster – solutions for tool inventory, storage, tracking, and vending management
• Stanley Supply & Services – provider of MRO products and services; previously known as Contact East and Jensen Tools; renamed in 2006

Engineered fastening

• Emhart Teknologies – fastening and assembly solutions; acquired in 2010 and rebranded as Stanley Engineered Fastening
• Dodge – manufacturer of metal-on-plastic threaded inserts
• Gripco – supplier of threaded fasteners
• HeliCoil – producer of threaded inserts
• Infastech – joined Stanley Engineered Fastening through acquisition in 2013
  • Avdel – blind fastening systems and associated tools
  • iForm – coated threaded fasteners brand
• MasterFix (Europe) – specializes in blind riveting technology
• Nelson – stud welding fastener products
• NPR/POP – riveting technology provider
• Spiralock – threaded fasteners and inserts; acquired by Emhart in 2010
• Stanley Assembly Technologies – assembly line power tool manufacturer
• Tucker – hole-less fastening systems
• Warren – custom fabrication for fastening solutions

Infrastructure

• Hydraulic tools division:
  • Dubuis – cutting, crimping, and grounding hydraulic tools
  • Horst Sprenger GmbH (Germany) – consumables for scrap processing machinery
  • LaBounty – non-impact hydraulic attachments for heavy equipment
  • Stanley Hydraulic Tools
• Stanley Oil & Gas (CRC-Evans International) – equipment for pipeline construction serving the oil and gas sector
• Stanley – automatic door systems for commercial buildings
• Paladin Attachments – provides excavation, agricultural, and infrastructure machinery attachments

Aerospace Manufacturing

• CAM

Stanley Security Solutions (SSS)

On July 22, 2022, Securitas Electronic Security completed the acquisition of Stanley Security Solutions, subsequently rebranding the entity as Securitas Technology.

The division's North American headquarters are located in Fishers, Indiana. This segment of Stanley Black & Decker encompasses:

• Convergent Security Solutions
• Stanley Access Technologies
• Stanley Healthcare Solutions

Its global footprint extends across Latin America, Europe, Asia, and developing markets.

Stanley Security Solutions provides a comprehensive range of products including locks, fire detection devices, security cameras, and associated hardware, complemented by software solutions focused on surveillance and cybersecurity. Notable offerings include:

• Aero Scout
• Sargent and Greenleaf
• Access Control Systems
• Video Surveillance Systems
• Intrusion Alarm Monitoring Systems
• Sonitrol
• Fire Alarm Monitoring Systems
• Video Alarm Verification
• Network Security
• Cyber Security
• Retail Analytics
• Integrated Security Solutions
• Enterprise Security Solutions

Divested Businesses

Stanley Securities

During the fourth quarter of 2021, Stanley Black & Decker divested its Commercial Electronic and Healthcare Security divisions to Securitas for $3.2 billion in cash. These business units were forecasted to generate around $1.7 billion in revenue for 2021.

Stanley Access Technologies

In the first quarter of 2022, Stanley Access Technologies was sold to Allegion for $900 million in cash.

Stanley Oil & Gas

The second quarter of 2022 saw the sale of Stanley Oil & Gas—which included STANLEY Inspection, Pipeline Induction Heat Ltd., and CRC-Evans Pipeline International—to Pipeline Technique Limited.

Mechanical Access Solutions (MAS)

Previously part of Stanley Security Solutions, MAS incorporated Best Access Systems along with several other brands that were sold to Dormakaba in the final quarter of 2016. While the MAS division was discontinued, the Sergeant & Greenleaf brand remained under Convergent Security Solutions.

Hardware and Home Improvement (HHI)

The HHI segment was divested to Spectrum Brands in 2012. Prominent brands within this portfolio included:

• Baldwin – acquired in 2010
• Kwikset – acquired by Black & Decker in 1989
• National Hardware – acquired in 2005
• Price Pfister – acquired by Black & Decker in 1989
• Weiser Lock – specializing in keyless entry and door hardware

Air Compressors and Pressure Washers

This division was sold to MAT Holdings in 2011.

• DeVilbiss Air Power – pneumatic tool line acquired in 2004; currently part of MAT Industries, LLC

Tools

• Husky – a private-label hand tool brand for The Home Depot, initially acquired in 1986 and later transferred to The Home Depot.
• Vector Products – manufacturer of battery chargers, power inverters, and related equipment; acquired in 2007 and subsequently sold to Baccus Global in 2010.