Epiroc to Acquire Black & Decker’s Stanley Infrastructure
Published: 28/12, 2023
Swedish construction manufacturer Epiroc has agreed to acquire Stanely Infrastructure, a global manufacturer of excavator attachments and handheld hydraulic tools, from Stanley Black & Decker, Inc. The strategic acquisition will strengthen Epiroc’s presence in the attachments business in infrastructure and construction, especially in the U.S.
Based in Milwaukie, Ore., Stanley Infrastructure designs, manufactures, and sells attachments, typically used on excavators and handheld hydraulic and battery-powered tools for applications in infrastructure, construction, scrap recycling, demolition, and railroad infrastructure. Its brands include LaBounty, Paladin, Pengo, and Dubuis. With nearly1,400 employees, Stanley Infrastructure has 10 key production facilities, in the U.S., Canada, France, and China. The vast majority of its revenues are generated in North America.
“We are very excited about this strategic acquisition, which is a major step to strengthen our long-term presence in the infrastructure and construction industries,” says Epiroc president and CEO Helena Hedblom. “Stanley Infrastructure has industry-leading products, services and solutions with renowned brands, solid customer relationships, and a strong people culture, which all makes this a perfect fit for Epiroc.
Hedblom adds that the two organization’s product portfolios complement each other very well. In addition to filling important gaps in Epiroc’s current offering, “we gain access to a broad indirect sales network, which will further diversify and strengthen our footprint.”
Pending completion of routine regulatory filings, the acquisition is expected to be completed in the first quarter of 2024, after which Stanley Infrastructure will become part of Epiroc’s Tools & Attachments division.
“Customers will benefit from having access to a more complete product portfolio, which, we together will continue to develop to meet customers’ increasing need for versatility and productivity,” says division president Goran Popovski. “We look forward to welcoming the great team at Stanley Infrastructure to the Epiroc Group, and to grow successfully together.”