Epiroc expands presence in infrastructure construction with new acquisition
January 2, 2024 By Rock to Road Staff
NACKA, Sweden – Swedish mining and infrastructure equipment manufacturer Epiroc has signed a $758 million USD purchase agreement for Stanley Infrastructure, a global manufacturer of excavator attachments and handheld hydraulic and battery-operated construction and demolition tools.
Previously a part of Stanley Black & Decker Inc., Stanley Infrastructure is headquartered in Milwaukie, OR, and is made up of the LaBounty, Paladin, Pengo and Dubuis brands. With this acquisition, Epiroc will inherit 1,300 employees from Stanley and 10 production facilities across the U.S., Canada, France and China.
“Stanley Infrastructure has industry-leading products, services, and solutions with renowned brands, solid customer relationships, and a strong people culture, making this a perfect fit for Epiroc,” said Helena Hedblom, Epiroc’s president and CEO. “We are very excited about this strategic acquisition, which is a major step to strengthen our long-term presence in the infrastructure and construction industries.”
The purchase is expected to be completed by the end of Q1 2024, and is an all-cash acquisition with financing secured through a bridge facility.
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