Cleary Gottlieb is representing The Stanley Works in the sale of its CST/berger laser leveling and measuring business to Robert Bosch Tool Corporation for $205 million. The deal is expected to close in the next several months, once regulatory approvals are received.
The deal marks a continuation of Stanley’s strategy to lessen its dependency on the construction and DIY markets. Past deals furthering this strategy, in which Cleary Gottlieb has represented Stanley as seller, include its divesture of the Home Decor division to Wellspring Capital and the sale of the Doors unit to Masonite.
The Stanley Works, an S&P 500 company with 2007 revenues of $4.5 billion, is a diversified worldwide supplier of tools and engineered solutions for professional, industrial, construction and do-it-yourself use, and access security solutions for commercial applications.
Robert Bosch Tool Corporation is part of the Bosch Group, a leading global supplier of technology and services based in Germany.
