Epiroc will acquire Stanley Infrastructure from Stanley Black & Decker in a deal valued at $760 million. Stanley manufactures excavator attachments as well as hand-held hydraulic and battery-powered tools. Brands included in the acquisition include LaBounty, Paladin, Pengo, and Dubuis.
“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,” said Helena Hedblom, president/CEO of Epiroc, in a webcast announcing the deal. “Our product portfolios complement each other very well, and this fills some important gaps in our current offering. In addition, we gain access to a broad indirect sales network, which will further diversify and strengthen our footprint. Infrastructure and construction have attractive drivers that include urbanization and scrap recycling for steel production, which will support long-term growth.”
Epiroc expects 2023 revenue from the Stanley organization of between $450 million to $470 million. Hedblom said the acquisition allows the allows the company to take advantage of “attractive tailwinds such as the U.S. IRA [Inflation Reduction Act] bill.”
“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,” said Goran Popovski, president of Epiroc’s tools & attachments division.
“We look forward to welcoming the great team at Stanley Infrastructure to the Epiroc Group, and to grow successfully together.”
