Stanley Black & Decker Completes Sale of Security Business

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NEW BRITAIN, Conn. — Stanley Black & Decker on Friday announced that it has completed the previously announced sale of most of its Security assets to Securitas AB for $3.2 billion in cash.

The sale includes Stanley Black & Decker's Commercial Electronic and Healthcare Security business lines. Net proceeds from the sale are expected to fund debt reduction and the $2.3 billion share repurchase completed in the first quarter. This transaction was announced on Dec. 8, 2021.

"The completed sale of our Security business is another major milestone in creating a more focused Stanley Black & Decker, leveraging our leadership position in Tools and Outdoor, as well as our highly engineered Industrial business," said Stanley Black & Decker's President and CEO Donald Allan, Jr.

Security generated approximately $1.6 billion in revenue in 2021 with adjusted EBITDA margin in the low double-digits, implying a purchase price of approximately 16 times trailing adjusted EBITDA, which reflects the successful transformation of the business over the last several years. Supplementary historical financial information reflecting the Security divestiture recorded in discontinued operations is available on the investor section of the website or can be accessed directly here.

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