Willkie advised on the deal, which is valued at $725 million.
On December 21, Willkie client dormakaba announced that it has agreed to acquire certain Mechanical Security businesses from Stanley Black & Decker for a total consideration of $725 million in cash. The transaction encompasses Stanley Commercial Hardware spanning mainly across North America and including a production facility in Taiwan; as well as GMT in China. Willkie served as counsel to dormakaba in connection with the proposed transaction.
Stanley Commercial Hardware operates with three main brands, including the “BEST” brand, one of the most recognized and trusted security names in the market. Their broad range of mechanical products and security solutions as well as wireless and cloud-based electronic locks are installed in more than 350,000 end-user sites across North America.
dormakaba Group is one of the top three companies in the global market for access and security solutions. With strong brands such as Dorma and Kaba in its portfolio, dormakaba Group is a single source for products, solutions and services related to doors and secure access to buildings and rooms. Active in more than 130 countries, dormakaba Group is headquartered in Rümlang (Zurich/Switzerland).
The Willkie deal team was led by partner William Gump and included partners Anthony Carbone, Eugene Chang, Mark Holdsworth, William Rooney, Viktor Okasmaa and Jeffrey Clark; counsel Jonathan Konoff and William Thomas; associates Bradley Friedman, Thomas Spencer, Justin Sommerkamp, Andrea de Vos, Timothy DeKeyser, Timothy Fleming, Meghan Hungate, Pia Williams Keevil, Annise Maguire, Rose Ohanesian, Agathe Richard, Kyle Mathews and Edward Torres; and law clerks Brian Palumbo, Peter Coulson and Jessica McGrath.