Stanley Black & Decker purchases Paladin, Genesis brands

By |  October 17, 2018

Stanley Black & Decker. (PRNewsFoto/Stanley Black & Decker)Stanley Black & Decker is acquiring IES Attachments, the attachment manufacturer that manages brands such as Paladin, Genesis and Pengo.

IES Attachments was purchased for $690 million.

“The acquisition of IES Attachments further diversifies our presence in the industrial markets, creates an additional well-defined path for continued profitable growth and delivers compelling cash flow returns,” says James Loree, president and CEO of Stanley Black & Decker. “Consistent with our long-term capital allocation strategy, we continue to deploy a balanced approach, capitalizing on both M&A and opportunistic share repurchases.

Stanley Black & Decker, formerly known as The Stanley Works and headquartered in New Britain, Connecticut, manufactures industrial tools and household hardware. The company also provides security products and locks.

Kevin Yanik

About the Author:

Kevin Yanik is the editor-in-chief of Pit & Quarry magazine. Yanik can be reached at 216-706-3724 or kyanik@northcoastmedia.net.

Comments are closed