The Stanley Infrastructure division of Stanley Black & Decker Inc. has announced the finalization of its acquisition of Paladin Attachments and Pengo Attachments. The acquisition does not include the Genesis line of attachments, with that brand remaining part of Oak Brook, Illinois-based International Equipment Solutions LLC (IES).
According to an August 2018 news release from IES, the original deal included the acquisition of Genesis and was valued at $690 million. The final transaction, as announced by Stanley Black & Decker Inc. in March, does not include the Genesis line, and no acquisition cost is mentioned.
“We are excited to join the Stanley Black & Decker organization, which shares our values of delivering industry-leading quality, innovation and customer service for our customers,” says Matt Roney, who will now serve as chief operating officer of Stanley Infrastructure. “As part of Stanley Black & Decker, Paladin and Pengo Attachments will remain committed to their core strategic imperatives related to their people and customers,” adds Roney.
Comments Doug Redpath, the president of Stanley Infrastructure, “I’m thrilled we are bringing together these great industrial businesses that believe in manufacturing high-quality products and delivering world-class customer service. Together we will reduce complexity for our existing customers and foster channel expansion and broader assortments for new customers and end users. A commitment to delivering innovation that solves end-user frustrations will be the foundation of our strategy as we look to provide meaningful growth.”
The Stanley Infrastructure division now includes the Paladin and Pengo brands, along with the Stanley, LaBounty and Dubuis brands in that business unit. Other brands within the Paladin family include FFC, Jewell and Sweepster.