Stanley Black & Decker
Stanley Black & Decker, Inc., formerly known as The Stanley Works, is a Fortune 500 American manufacturer of industrial tools and household hardware and provider of security products. Headquartered in the greater Hartford city of New Britain, Connecticut, Stanley Black & Decker is the result of the merger of Stanley Works and Black & Decker on March 12, 2010.
History
The Stanley Works came to existence as a direct result of the 1920 merger of Stanley's Bolt Manufactory, founded by Frederick Trent Stanley in 1843, and the Stanley Rule and Level Company, founded by Frederick's cousin, Henry Stanley, in 1857.During World War II, Stanley Works received the Army-Navy "E" Award for excellence in war production.
In May 2002, the company considered moving its corporate headquarters to Bermuda, but public and governmental outcry forced management to reconsider the move. By August 2002, the company had decided to maintain its incorporation in the United States.
John F. Lundgren was elected as chairman and chief executive officer in 2004, replacing John Trani, a former protégé of Jack Welch at General Electric.
The Hardware & Home Improvement Group, including the Kwikset, Weiser, Baldwin, National Hardware, Stanley, FANAL, Pfister and EZSET brands, was acquired by Spectrum Brands Holdings, Inc. on December 17, 2012.
In July 2016, CEO John F. Lundgren stepped down, with President and COO James M. Loree taking over as CEO.
Acquisitions
- 1937: Stanley Works entered the UK market with the acquisition of J.A. Chapman of Sheffield, England.
- 1946: Stanley Works acquired North Brothers Manufacturing Company in Philadelphia, Pennsylvania.
- 1963: Stanley started operations in Australia as Stanley-Titan when it bought a 50% share of Titan, a subsidiary of BHP.
- 1966: Stanley Works acquired Vidmar Cabinets in Allentown, Pennsylvania.
- 1970: Stanley-Titan acquired Turner Tools, based in Melbourne, Australia.
- 1980: Stanley Works acquired Mac Tools.
- 1984: Stanley Works purchased Proto from Ingersoll Rand and it becomes Stanley Proto.
- 1986: Stanley Works acquired Bostitch from Textron.
- 1990: Stanley Works acquired Goldblatt and ZAG Industries.
- 1990: Acquired Sidchrome Tool Co., head-quartered in Melbourne, Australia. Closed plant in 1996 and started to move all tool manufacturing to Taiwan, sourcing various items from Proto in the USA due to supply of left-over Australian-made tools being sold out until all manufacturing was fully established in Taiwan.
- 1992: Stanley Works purchased the Chatsworth, California-based Monarch Mirror Door Co. Inc., an American manufacturer of sliding and folding mirror-doors.
- 2000: Stanley Works acquired of Swindon, England, a UK integrator of security solutions, communication, and time-management solutions, and CST Berger.
- 2002: In October, Stanley Works acquired Best Access Systems of Indianapolis, Indiana, for $310 million. The acquisition also prompted the creation of a new Access Controls Group for Stanley. Further additions to this new working group included Blick.
- 2004: In January, Stanley announced plans to acquire Frisco Bay Industries Ltd., a Canadian provider of security integration services, for $45.3 million. In December, the acquisition of ISR Solutions, Inc., headquartered in Washington, D.C., was announced. ISR Solutions provides the U.S. federal government and commercial customers with access security system services.
- 2005: In January, the acquisition of Security Group, Inc. was announced. Security Group was composed of two primary operating companies: Sargent & Greenleaf, Inc., a manufacturer of locks; and Safemasters, a North American provider of security installation, maintenance and repair services. An additional acquisition of Precision Hardware was made in 2005.
- 2006: Stanley furthered its corporate assets in the security market by acquiring HSM Electronic Protection Systems after it had been spun off from Honeywell in compliance with pre-emptive Securities and Exchange Commission antitrust rulings. In the meantime, the company obtained security contracts as the primary contractor to secure three NASA spaceflight centers. Stanley Works also acquired Facom.
- 2007: Late in the year, Stanley acquired OSI Security of Chula Vista, California, a provider of battery-operated wireless lock technology and supplies to government, education, and healthcare industries.
- 2008: Stanley acquired Beach Toolbox Industries, headquartered in Smith Falls, Ontario, Canada, then closed the plant.
- 2008: In June, Stanley announced the acquisition of Sonitrol, which provides security systems that use audio listening devices as the primary means of intrusion detection. Stanley also acquired Xmark Corporation, which provides radio frequency identification solutions in healthcare environments. As of 2008, many of the Stanley Security Services divisions were being integrated under the HSM brand.
- 2009: On November 2, Stanley announced a merger with Black & Decker and DeWalt tools. The merger was completed on March 12, 2010.
- 2010: In July, the company announced the acquisition of CRC-Evans Pipeline International. CRC-Evans provides total project support for pipeline construction contractors with automatic welding and other pipeline construction specific equipment and personnel.
- 2011: On September 9, the acquisition of Niscayah was complete.
- 2012: On January 1, the acquisition of Lista North America from LISTA, headquartered in Holliston, Massachusetts, was completed.
- 2012: On June 1, the acquisition of Powers Fasteners, headquartered in Brewster, New York, was completed.
- 2012: On June 5, the acquisition of AeroScout, Inc., headquartered in Redwood City, California, was completed.
- 2016: Stanley Black & Decker announced in October that it acquired the Irwin, Lenox, and Hilmor tool brands for $1.95 billion from Newell Brands.
- 2017: On January 5, news reports indicated that it would acquire the Craftsman brand from KCD, LLC. Subsequent reports by Bloomberg indicated that the company would pay $525 million initially, an additional $250 million after three years, as well as annual payments on new Craftsman sales for 15 years.
- 2018: On September 12, Stanley Black & Decker announced that it has entered into a definitive agreement to acquire a 20 percent stake in MTD Products Inc, a privately held global manufacturer of outdoor power equipment, for $234 million in cash. Under the terms of the agreement, Stanley Black & Decker has the option to acquire the remaining 80 percent of MTD beginning on July 1, 2021.
- 2020: In Q1 2020, Stanley Black & Decker reaches agreement to acquire Consolidated Aerospace Manufacturing, LLC for pp to $1.5 Billion; Provides a fastener and component platform to grow in aerospace and defense and advances growth strategy.
Business segments and brands
Construction and do-it-yourself (CDIY)
Power tools
- DeWalt - power tools; B & D acquired in 1960
- Guoqiang Tools - power tools
- Porter-Cable - power tools; B & D acquired in 2004/2005
- Oldham Saw Company - circular saw blade and wood router bit products; B & D acquired in 2004
- Black & Decker - acquired in 2010
- Craftsman
Hand tools and storage
- Pastorino - carpentry and construction hand tools
- Stanley Hand Tools - carpentry and construction hand tools
- Craftsman
- Irwin Industrial Tools
Fastening and accessories
- Bostitch - fastening tools; acquired in 1986
- Powers Fasteners - adhesive and mechanical anchors
Industrial
Industrial and automotive repair (IAR)
- Cribmaster - tool inventory, storage, tracking and usage/vending management
- Expert - industrial and automotive tools
- Facom - professional tools; acquired in 2006
- Lista North America - industrial storage; acquired in 2012
- Mac Tools - professional tools; acquired in 1980
- Proto - industrial hand tools; acquired in 1984
- Blackhawk - Mechanic's tools; acquired in 1986
- Sidchrome - mechanics' tools; acquired in 1990
- Stanley Supply & Services - MRO products and services; formerly Contact East and Jensen Tools; renamed in 2006
- USAG - professional tools
- Vidmar - industrial storage; acquired in 1966
- Virax - plumbing tools; acquired in 2006
Engineered fastening
- Emhart Teknologies - fastening and assembly; acquired in 2010; later renamed Stanley Engineered Fastening
- Dodge - metal-on-plastic threaded inserts
- Gripco - threaded fasteners
- HeliCoil - threaded inserts
- Infastech - acquired in 2013 by Stanley Engineered Fastening
- * Avdel - blind fastening systems and related tools
- * iForm - coated threaded fasteners
- MasterFix - blind riveting
- Nelson - stud welding fasteners
- NPR/POP - riveting technology
- Spiralock - threaded fasteners and inserts; acquired in 2010 by Emhart
- Stanley Assembly Technologies - assembly line power tools
- Tucker - hole-less fastening
- Warren - custom fastening fabrication
Infrastructure
- Hydraulic tools
- * Dubuis - cutting, crimping, and grounding tools
- * Horst Sprenger GmbH - replacement consumables for scrap processing equipment
- * LaBounty - non-impact hydraulic attachments
- * Stanley Hydraulic Tools
- Stanley Oil & Gas - equipment used in the construction of pipelines for the oil and gas industry
- Paladin Attachments - equipment used for excavation, farming, and various other infrastructure.
Stanley Security Solutions (SSS)
- Convergent Security Solutions
- Stanley Access Technologies
- Stanley Healthcare Solutions
- Latin America
- Europe
- Asia
- Emerging Markets
- Hugs & Kisses
- 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
Mechanical Access Solutions (MAS)
Formerly a business unit within Stanley Security Solutions, this comprised Best Access Systems and several product brands that were sold to Dormakaba in 2016Q4. MAS was dissolved however the brand Sergeant & Greenleaf was retained by Convergent Security Solutions.Hardware and Home Improvement (HHI)
These were sold to Spectrum Brands in 2012.- Baldwin - acquired in 2010
- Kwikset - acquired in 1989 by Black & Decker
- National Hardware - general hardware; acquired in 2005
- Price Pfister - plumbing fixtures; acquired in 1989 by Black & Decker
- Weiser Lock - keyless entry and door hardware
Air compressors and pressure washers
- DeVilbiss Air Power - pneumatic tools; B & D acquired in 2004; now known as MAT Industries, LLC
Tools
- Husky - private-label hand tools for The Home Depot; acquired in 1986, later transferred to The Home Depot
- Vector Products - battery chargers, power inverters, and similar power products; acquired in 2007; sold to Baccus Global in 2010