dormakaba completes $725M pickup of mechanical security unit
February 24, 2017
Commercial Products | New Britain, CT | Corporate Acquisition
Swiss security group dormakaba (SIX: DOKA) has completed the previously announced acquisition of the mechanical security businesses of Stanley Black & Decker (NYSE: SWK) for $725 million in cash. The deal includes the commercial hardware brands of BEST Access, phi Precision and GMT and is expected to generate after-tax cash proceeds of approximately $700 million.