Stanley Black & Decker purchases Paladin, Genesis brands

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.