Industrial goods provider Stanley Black & Decker, Inc. (SWK) Wednesday announced the completion of the previously announced acquisition of Infastech, a manufacturer and distributor of specialty engineered fastening technologies, headquartered in Hong Kong, from CVC Capital Partners and Standard Chartered Private Equity Limited for $850 million in cash.
The company said it anticipates that the acquisition would be immediately accretive to earnings per share, with accretion of $0.20 per share in 2013 and $0.40 per share in 2015, excluding acquisition-related after-tax charges of approximately $30 million which is largely expected to be incurred in 2013. Also, the company continues to expect the transaction to result in annual cost savings of approximately $25 million by 2015. Stanley Black & Decker further added, with the acquisition of Infastech, the engineered fastening platform is expected to be approximately $1.5 billion in annual revenues, in line with the its mid-decade revenue goal for the platform of $1 - $2 billion.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.