Stanley Black & Decker Acquires Attachments Business from KPS for $690 Million
August 7, 2018
Cleary Gottlieb is representing Stanley Black & Decker, Inc. (Stanley) in connection with its $690 million all-cash acquisition of International Equipment Solutions Attachments Group (IES Attachments) from KPS Capital Partners.
IES Attachments is a manufacturer of high quality, performance-driven heavy equipment attachment tools for off-highway applications, with several leading brands such as Genesis, Paladin, and Pengo. With LTM revenues of approximately $400 million, IES Attachments will be combined with Stanley Black & Decker’s Hydraulic Tools business within the Industrial Segment to create a broad portfolio of attachment solutions and a platform for continued organic and acquisitive growth. The acquisition agreement excludes the IES cabs business sold under the Crenlo and other brand names.
Stanley Black & Decker, an S&P 500 company, is a diversified global provider of hand tools, power tools and related accessories, mechanical access solutions and electronic security solutions, healthcare solutions, engineered fastening systems and more.