Epiroc AB has agreed to acquire STANLEY Infrastructure in a move that will shake up the global attachments business.
The strategic acquisition will strengthen Epiroc’s presence in the attachments business in infrastructure and construction, especially in the United States.
STANLEY Infrastructure, a business within Stanley Black & Decker’s Industrial business segment, designs and manufactures attachments for applications in demolition, construction, and scrap recycling. Brands include LaBounty, Paladin, Pengo and Dubuis.
STANLEY Infrastructure has 10 key production facilities, in the United States, Canada, France, and China. The vast majority of the 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 Helena Hedblom, Epiroc’s President and CEO. “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. 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 urbanisation and scrap recycling for steel production, which will support long-term growth.”
“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 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.”
