Stanley Works Completes Acquisition of Best Access Systems
NEW BRITAIN, Conn.
The Stanley Works says it has completed acquiring 100 percent of the outstanding common shares of Best Lock Corp., known as Best Access Systems (BAS).
Best Access is a global provider of security access control systems with $250 million in sales. Its products include mechanical access hardware and electronic access controls used in government offices, military facilities, hospitals, commercial buildings and educational facilities worldwide.
Stanley officials say adding BAS is a significant step in enabling the company to build service and technology infrastructures in the large security and safety market by combining its current automatic door, commercial hardware and service businesses with BAS’ mechanical and electronic locking, service and systems integration.
As a result of the acquisition, Stanley will have a $450 million platform in this market, building upon this platform both organically and through acquisitions, according to management.
Management expects the acquisition to immediately increase the company’s earnings and to generate a return that covers Stanley’s cost of capital in the first year of ownership. The company also says Integration plans have been developed and will begin to be implemented before the end of this year.
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