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Marketing will further focus Stanley Black & Decker’s portfolio on its core businesses.
New Britain, Conn, July 22, 2022 /PRNewswire/ — Stanley Black & Decker (NYSE: SWK ) It announced today that it has completed the previously announced sale of most of its securities assets to Securitas AB (STO: SECU B). 3.2 billion dollars in cash. The sale includes Stanley Black & Decker’s Commercial Electronic and Healthcare Security lines of business (“Security”). The net proceeds from the sale are used to reduce debt and b 2.3 billion dollars The share buyback was completed in the first quarter. This transaction was announced in December 8, 2021.
Donald Allen, Jr, Stanley Black And Decker’s President and CEO commented, “The completed sale of our security business is another milestone in our continued focus on building a strong business. Stanley Black & Decker, leveraging our leadership position in appliances and outdoor, as well as our highly engineered industrial business.
Safety is generated by approx 1.6 billion dollars With revenue in 2021 adjusted EBITDA margin in the low double digits, the purchase price will follow at approximately 16 times adjusted EBITDA, reflecting the successful turnaround of the business over the past several years. Additional historical financial information reflecting the recorded security difference in discontinued operations is available on the Investors section of the website or may be accessed directly at the following link: Form 8K.
In Care Of Stanley Black & Decker
Headquarters at America, Stanley Black & Decker (NYSE: SWK) is the world’s largest equipment company with nearly 50 manufacturing facilities across the United States and more than 100 worldwide. Driven by its mission – for those who make the world – the company’s more than 60,000 diverse and high-performing employees produce innovative, award-winning power tools, hand tools, storage, digital device solutions, lifestyle products, outdoor products, engineering connectors and produce. Other industry tools to support the world’s makers, inventors, marketers and builders. The company’s popular brands include DEWALT®, BLACK+DECKER®, CRAFTSMAN®, STANLEY®, CUB CADET®, HUSTLER® and TROY-BILT®. Recognized for its leadership in Environmental, Social and Governance (ESG); Stanley Black & Decker strives to be a force for good by supporting its community, employees, customers and other stakeholders. To learn more, visit www.stanleyblackanddecker.com.
Investor Contacts:
Dennis Long
Vice President, Investor Relations
[email protected]
(860) 827-3833
Cort Kaufman
Senior Director, Investor Relations
[email protected]
(860) 515-2741
Christina Francis
Director, Investor Relations
[email protected]
(860) 438-3470
Media Contacts:
Deborah Raymond
Vice President, Public Relations
[email protected]
(203) 640-8054
Cautionary Note Regarding Forward-Looking Statements
Regarding Forward-Looking Statements Stanley Black & Decker makes forward-looking statements in this press release that represent its expectations or beliefs about future events and financial performance. Forward-looking statements are identified by words such as “believe,” “anticipate,” “anticipate,” “expect,” “plan,” “will,” “may” and other similar statements. In addition, any statements that reflect expectations, forecasts or other future events or conditions are forward-looking statements. Forward-looking statements made in this press release include, but are not limited to: using proceeds for debt reduction and partial financing; 2.3 billion dollars The share buyback was completed in the first quarter.
You are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements are not guarantees of future events and involve risks, uncertainties and other known and unknown circumstances that could cause actual results and performance to differ materially from any future results or performance, including forward-looking statements. , but it is not limited to using income to reduce debt and partially finance it 2.3 billion dollars The share buyback was completed in the first quarter.
Forward-looking statements made herein are subject to risks and uncertainties, which are described in: Stanley Black & Decker’s 2021 Annual Report on Form 10-K, followed by quarterly reports on Form 10-Q; and other records Stanley Black & Decker with the Securities and Exchange Commission. In addition, actual results may differ materially from those indicated by forward-looking statements, and therefore you should not place undue reliance on forward-looking statements. Stanley Black & Decker undertakes no obligation to revise or update any forward-looking statement to reflect events or circumstances that occur or exist after the date of any forward-looking statement.
Source Stanley Black & Decker
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