Epiroc AB (publ) (OM:EPI A) agreed to acquire STANLEY Infrastructure, LLC from Stanley Black & Decker, Inc. (NYSE:SWK) for $760 million on December 15, 2023. The acquisition is an all-cash transaction with secured financing through a bridge facility. STANLEY Infrastructure reported $547 million revenues in 2022. The acquisition is subject to customary regulatory filings and is expected to be completed in the first quarter 2024. Stanley Black & Decker expects to utilize the cash proceeds of the transaction, net of modest taxes, to reduce debt. As per amended filing, transaction is expected to be completed in late first quarter of 2024. Sean C. Doyle, Samuel J. Cammer, Erica Schohn, Bruce Goldner, David P. Wales, Alec J. Jarvis of Skadden, Arps, Slate, Meagher & Flom LLP acted as legal counsel for Stanley Black & Decker. J.P. Morgan acted as financial advisor to Stanley Black & Decker, Inc. Centerview Partners acted as financial advisor to Stanley Black & Decker, Inc.

Epiroc AB (publ) (OM:EPI A) completed the acquisition of STANLEY Infrastructure, LLC from Stanley Black & Decker, Inc. (NYSE:SWK) on April 1, 2024. Stanley Black & Decker expects to utilize the cash proceeds, net of modest taxes, to reduce debt.