Black & Decker To Pay $850M For Hong Kong Fastener Co.

Law360, Los Angeles (July 23, 2012, 8:51 PM EDT) -- Stanley Black & Decker said Monday that it has agreed to acquire Hong Kong-based distributor of specially engineered fastening technologies from CVC Capital Partners and Standard Chartered Private Equity Limited for $850 million in cash.

Infastech is a leading manufacturer of mechanical fasteners used in the industrial, electronics, automotive, construction and aerospace industries. The company employs more than 2,000 workers and generates approximately $500 million in revenues, Black & Decker said.

The acquisition of Infastech will reduce Black & Decker costs associated with the fastener business...
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