Stanley Black & Decker, Inc. (NYSE:SWK) entered into a definitive agreement to acquire Excel Industries Inc. for approximately $380 million on September 12, 2021. The consideration is paid in cash. The transaction will be funded with cash on hand proceeds from borrowings. The transaction is subject to purchase price adjustment provisions and customary closing conditions, including receipt of required regulatory approvals. The transaction has been approved by a majority of Excel's shareholders. The acquisition will be modestly accretive to Stanley Black & Decker's EPS in year one and accretive to EPS by approximately $0.15 - $0.20 by year three, excluding charges. The acquisition is expected to close at the end of 2021. The transactions will be accretive to our 2022 earnings and have the potential of further margin expansion as we integrate these great businesses. Robert I. Townsend, Thomas E. Dunn, Kara L. Mungovan, Eric W. Hilfers, Aaron S. Cha, Matthew Morreale, Brian M. Budnick, Laurel R. Berkowitz, Megan Y. Lew, Anthony N. Magistrale and Paul A. Bryant of Cravath, Swaine & Moore LLP and Leslie Overton and Daniel Bitton of Axinn, Veltrop & Harkrider LLP acted as legal advisors to Stanley Black & Decker, Inc.
Stanley Black & Decker, Inc. (NYSE:SWK) completed the acquisition of Excel Industries Inc. on December 1, 2021. The acquisition will be consolidated into Tools & Storage segment of Stanley Black & Decker, Inc.