Stanley Black & Decker

Stanley Black & Decker, Inc.

Type	Public
Traded as	NYSE: SWK S&P 500 Component
Industry	Hardware
Founded	1843[1]
Founder	Frederick Trent Stanley S. Duncan Black Alonzo G. Decker
Headquarters	New Britain, Connecticut, United States
Key people	John F. Lundgren (Chairman and CEO) James M. Loree (EVP and COO)
Products	Tools, hardware, security, medical equipment
Revenue	US $10.190 billion (2012)[2]
Net income	US $ 883.8 mil (2012) [2]
Number of employees	45,327 [3]
Website	stanleyblackanddecker.com

Stanley Black & Decker, Inc., formerly known as The Stanley Works, is a Fortune 500 American manufacturer of industrial tools and household hardware and provider of security products and locks headquartered in New Britain, Connecticut. Stanley Black & Decker is the result of the merger of Stanley Works and Black & Decker on March 12, 2010.^[4]

History

The company came to existence as a direct result of the 1920 merger of Stanley's Bolt Manufactory, founded by Frederick Trent Stanley in 1843, and the Stanley Rule and Level Company,^[5] founded by Frederick's cousin, Henry Stanley, in 1857.

During World War II, Stanley Works received the Army-Navy "E" Award for excellence in war production.^[6]

WWII Army-Navy Production Award to Stanley Works, presentation program, January 20, 1943

In May 2002, the company considered moving its corporate headquarters to Bermuda, but public and governmental outcry forced management to reconsider the move. By August 2002, the company had decided to maintain its incorporation in the United States.

John F. Lundgren was elected as Chairman and Chief Executive Officer in 2004, replacing John Trani, a former protégé of Jack Welch at General Electric.

The Hardware & Home Improvement Group, including the Kwikset, Weiser, Baldwin, National Hardware, Stanley, FANAL, Pfister and EZSET brands, was acquired by Spectrum Brands Holdings, Inc. on Dec. 17, 2012.^[7]

Acquisitions

• 1937: Stanley Works entered the UK market with the acquisition of J.A Chapman of Sheffield, England.^[8]
• 1946: Stanley Works acquired North Brothers Manufacturing Company.^[9]
• 1963: Stanley started operations in Australia as Stanley-Titan when it bought a 50% share of Titan, a subsidiary of BHP.^[10]
• 1966: Stanley Works acquired Vidmar Cabinets.^[11]
• 1970: Stanley-Titan acquired Turner Tools based in Melbourne, Australia.^[12]
• 1980: Stanley Works acquired Mac Tools.^[8][13]
• 1984: Stanley Works purchased Proto from Ingersoll Rand and it becomes Stanley Proto.^[14]
• 1986: Stanley Works acquired Bostitch from Textron.^[15]
• 1990: Stanley Works acquired Goldblatt^[8][13] and ZAG Industries.^[13]
• 1990: Acquired Sidchrome Tool Co., headquartered in Melbourne, Australia; closed plant and moved all tool manufacturing to China.
• 1992: Stanley Works purchased the Chatsworth, California-based Monarch Mirror Door Co. Inc., an American manufacturer of sliding and folding mirror-doors.
• 2000: Stanley Works acquired Blick of Swindon, England,^[8][13] a UK integrator of security solutions, communication, and time-management solutions, and CST Berger.^[8][13]
• 2002: In October, Stanley Works acquired Best Access Systems of Indianapolis, Indiana, for $310 million. The acquisition also prompted the creation of a new Access Controls Group for Stanley. Further additions to this new working group included Blick.
• 2004: In January, Stanley announced plans to acquire Frisco Bay Industries Ltd., a Canadian provider of security integration services, for $45.3 million. In December, the acquisition of ISR Solutions, Inc., headquartered in Washington, D.C., was announced. ISR Solutions provides the U.S. federal government and commercial customers with access security system services.
• 2005: In January, the acquisition of Security Group, Inc. was announced. Security Group was composed of two primary operating companies: Sargent & Greenleaf, Inc., a manufacturer of locks; and Safemasters, a North American provider of security installation, maintenance and repair services. An additional acquisition of Precision Hardware was made in 2005.
• 2006: Stanley furthered its corporate assets in the security market by acquiring HSM Electronic Protection Systems after it had been spun off from Honeywell in compliance with pre-emptive Securities and Exchange Commission antitrust rulings. In the meantime, the company obtained security contracts as the primary contractor to secure three NASA spaceflight centers.^[16] Stanley Works also acquired Facom'.^[8][13]
• 2007: Late in the year, Stanley acquired OSI Security of Chula Vista, California, a provider of battery-operated wireless lock technology and supplies to government, education, and healthcare industries.
• 2008: Stanley acquired Beach Toolbox Industries, headquartered in Smith Falls, Ontario, Canada, then closed the plant.
• 2008: In June, Stanley announced the acquisition of Sonitrol, which provides security systems that use audio listening devices as the primary means of intrusion detection. Stanley also acquired Xmark Corporation, which provides radio frequency identification (RFID) solutions in healthcare environments. As of 2008, many of the Stanley Security Services divisions were being integrated under the HSM brand.
• 2009: On November 2, Stanley announced a merger with Black & Decker.^[17] The merger was completed on March 12, 2010.^[18]
• 2010: In July, the company announced the acquisition of CRC-Evans Pipeline International.^[19] CRC-Evans provides total project support for pipeline construction contractors with automatic welding and other pipeline construction specific equipment and personnel.
• 2011: On September 9, the acquisition of Niscayah was complete.
• 2012: On January 1, the acquisition of Lista North America, headquartered in Holliston, Massachusetts, was completed.^[20]
• 2012: On June 5, the acquisition of AeroScout, Inc., headquartered in Redwood City, California, was completed.^[21]

Business segments and brands

Sources:^[22][23][24]

Construction and do-it-yourself (CDIY)

Power tools

• DeWalt – power tools; B & D acquired in 1960
• Guoqiang (GQ) Tools (China) – power tools
• Porter-Cable – power tools; B & D acquired in 2004^[25]/2005^[26]
• Oldham Saw Company – circular saw blade and wood router bit products; B & D acquired in 2004^[25]
• Black & Decker – acquired (via merger) in 2010
• Stanley Hand Tools

Hand tools and storage

• Stanley Hand Tools – carpentry and construction hand tools

Fastening and accessories

• Bostitch – fastening tools; acquired in 1986
• Powers Fasteners – adhesive and mechanical anchors

Industrial

Industrial and automotive repair (IAR)

• Cribmaster – tool inventory, storage, tracking and usage/vending management
• Expert – industrial and automotive tools
• Facom (France) – professional tools; acquired in 2006 (includes Britool^[27])
• Lista North America – industrial storage; acquired in 2012
• Mac Tools – professional tools; acquired in 1980
• Proto – industrial hand tools; acquired in 1984
  • Blackhawk – Mechanic's tools; acquired in 1986
• Sidchrome (Australia/New Zealand) – mechanics' tools; acquired in 1990
• Stanley Supply & Services – MRO products and services; formerly Contact East and Jensen Tools; renamed in 2006
• USAG (Italy) – professional tools
• Vidmar – industrial storage; acquired in 1966
• Virax (France) – plumbing tools; acquired in 2006

Engineered fastening

• Emhart Teknologies – fastening and assembly; acquired in 2010; later renamed Stanley Engineered Fastening
• Dodge – metal-on-plastic threaded inserts
• Gripco – threaded fasteners
• HeliCoil – threaded inserts
• Infastech – acquired in 2013 by Stanley Engineered Fastening
  • Avdel – blind fastening systems and related tools
  • iForm – coated threaded fasteners
• MasterFix (Europe) – blind riveting
• NPR/POP – riveting technology
• Spiralock – threaded fasteners and inserts; acquired in 2010 by Emhart
• Stanley Assembly Technologies – assembly line power tools
• Tucker – hole-less fastening
• Warren – custom fastening fabrication^[28]

Infrastructure

• Hydraulic tools
  • Dubuis – cutting, crimping, and grounding tools
  • Horst Sprenger GmbH (Germany) – replacement consumables for scrap processing equipment
  • LaBounty – non-impact hydraulic attachments
  • Stanley Hydraulic Tools
• Stanley Oil & Gas (CRC-Evans International) – equipment used in the construction of pipelines for the oil and gas (O&G) industry

Security

Convergent security solutions (CSS)

This focuses on electronic security systems and related services. A reorganization of Stanley Security Solutions, Stanley Correctional Systems and Healthcare Solutions resulted in a unified non-hardware business unit.

• Blick (UK) – security solution, communication and time management systems integrator
• HSM
• Niscayah AB; acquired in 2011
• Sonitrol
• Générale de Protection (France)
• Stanley Health Care Solutions^[29] – supply chain, asset, and patient/resident protection systems
  • AeroScout – real-time location systems (RTLS)
  • Arial – wireless emergency call
  • Bed-Check – electronic fall monitoring
  • InnerSpace - a provider of healthcare storage solutions and inventory management analysis. InnerSpace also provides web-based supply management software that utilizes barcoding technology to increase charge capture, reduce excess inventory, and eliminate waste. It was acquired in 2006.
  • Hugs Infant Protection – infant abduction and mismatch prevention
  • Micro-Tech Enterprises – electronic fall monitoring
  • MyCall – wireless emergency call
  • Passport – adult patient elopement and flight prevention
  • Pedz – pediatric patient abduction and flight prevention
  • RoamAlert – clinical and residential wander management
  • ScanModul – healthcare industry storage
  • SpaceTRAX – inventory management
  • Tabs – electronic fall monitoring
  • UMP – electronic fall monitoring
  • WanderGuard – patient/resident wander management
• Intivid Solutions – video electronics

Mechanical access solutions (MAS)

These are physical access systems and associated hardware, including automatic doors, electronic keyless entry systems, locking mechanisms and related keying systems.

• Best Access Systems – door hardware and locks; acquired in 2002
• C.J. Rush Industries (Canada) – revolving doors and entrance systems
• EVS (Canada)
• Frisco Bay Industries Ltd. (Canada)
• Frisco-ATMS (Canada)
• Safemasters
• Sargent and Greenleaf, Inc.
• Sielox Security Systems (Australia)
• Stanley Access Technologies – automatic doors
• Stanley Door Closers
• Precision Hardware – panic and fire exit hardware
• Stanley Hardware

Divested businesses

Hardware and home improvement (HHI)

These were sold to Spectrum Brands in 2012.

• Baldwin – acquired in 2010
• Kwikset – acquired in 1989 by Black & Decker
• National Hardware – general hardware; acquired in 2005
• Price Pfister – plumbing fixtures; acquired in 1989 by Black & Decker
• Weiser Lock – keyless entry and door hardware

Air compressors and pressure washers

This was sold to MAT Holdings in 2011.^[30]

• DeVilbiss Air Power – pneumatic tools; B & D acquired in 2004;^[25] now known as MAT Industries, LLC

Tools

• Husky – private-label hand tools for The Home Depot; acquired in 1986, later transferred to Home Depot
• Craftsman – private-label hand tools for Sears, up until the mid-1980s
• Vector Products – battery chargers, power inverters, and similar power products; acquired in 2007; sold to Baccus Global in 2010

Executive compensation

In July 2011, The New York Times reported that Chief Executive Officer John F. Lundgren made $21.7 million in compensation.^[31]

Notes

1. Stanley Works. "Company History". Retrieved January 9, 20089. Check date values in: |access-date= (help)
2. "SWK - Finance". Retrieved March 25, 2012.
3. "SWK Company - Finance". Retrieved March 25, 2012.
4. "Stanley and Black & Decker Complete Merger" (Press release). Stanley Black & Decker. March 12, 2010. Retrieved March 19, 2010.
5. "Patrick's Blood and Gore". Leach, Leach. Enormously detailed model history of planes manufactured by Stanley.
6. "File:Army-Navy Production Award to Stanley Works, presentation program, January 20, 1943 - New Britain Industrial Museum - DSC09905.JPG". Wikimedia Commons. Retrieved 2014-01-21.
7. , 17 December 2012, Businesswire
8. Staff (n.d.). "Stanley". infomat.net. Archived from the original on July 28, 2011. Retrieved August 18, 2012.
9. Wiktor Kuc. "North Bros. Manufacturing Company - Historical Overview". wkFineTools.com. Retrieved August 18, 2013.
10. "Stanley Australia Tools". Hand Tool Preservation Association of Australia. Retrieved 2015-02-15.
11. About Stanley Vidmar
12. "Turner Tools". Hand Tool Preservation Association of Australia. Retrieved 2015-02-14.
13. "Overview Stanley Black & Decker". Retrieved May 15, 2015.
14. "Proto Tools 100th Anniversary Timeline". Stanley Proto. Retrieved August 21, 2008.
15. "Stanley Bostitch – Our History". Stanley Bostitch. Retrieved August 21, 2008.
16. The Stanley Works, Annual Report, 2006.
17. Langlois, Shawn (November 2, 2009). "Stanley Works Buying Black & Decker in $4.5 Billion Deal". MarketWatch. Retrieved August 18, 2012.
18. Sentementes, Gus G. (March 12, 2010). "Black & Decker, Stanley Works Shareholders Approve Deal – New Firm, To Be Called Stanley Black & Decker, Will Begin Operations on Monday. The Baltimore Sun. Retrieved August 18, 2012.
19. . CRC-Evans.
20. Lista Announces Merger with Stanley Black and Decker
21. Stanley Black & Decker buys AeroScout, Shmulik Shelach, 6 June 2012, Globes
22. "Stanley Black & Decker Annual Report". 2013. Retrieved 2014-05-01.
23. "Stanley Black & Decker Products & Services". Retrieved 2014-05-01.
24. "Stanley Black & Decker: Our Brands". Retrieved 2014-05-01.
25. Black and Decker shuttering N.C. plant April 13, 2005
26. "Delta/Porter Cable website. ->About Us/History -> Section Titled: "A New Era"". Retrieved December 31, 2010.
27. Britool website, about us
28. "Stanley Engineered Fastening". Retrieved 2014-05-01.
29. "Stanley Healthcare Solutions". Retrieved 2014-05-01.
30. http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=129699973
31. "How Executive Pay Figures Were Calculated" (unsigned). The New York Times. July 3, 2011.

Further reading

• Walter, John (1996). Antique & Collectible Stanley Tools: Guide to Identity & Value. Ohio: The Tool Merchant. ISBN 1-878911-02-3.

External links

• stanleyblackanddecker.com, the company's official website