The Stanley Works in $545 Million Acquisition of HSM
January 8, 2007
Cleary Gottlieb is representing The Stanley Works in its acquisition of HSM Electronic Protection Services, Inc. from private equity firm GTCR Golder Rauner and senior management for $545 million. The transaction, which is one of Stanley’s largest-ever, is expected to close early in 2007 after the receipt of regulatory approvals and clearances.
The Stanley Works, an S&P 500 company with estimated 2006 revenues of $4 billion, is a worldwide supplier of consumer products, industrial tools and security solutions for professional, commercial, industrial and consumer use. In connection with the acquisition of HSM, the company announced the formation of a new business unit, Stanley Convergent Security Solutions, which will include its existing electronic access control and systems integration activities as well as commercial monitoring.
HSM, based in Lisle, IL, provides security alarm monitoring services and access control systems to commercial customers via a Minneapolis, MN monitoring hub central station and a network of branch locations across the U.S. HSM combines world class service and installation capabilities with a broad customer base and is the fourth largest electronic security company and second largest commercial monitoring company in North America.