Epiroc to acquire Stanley Infrastructure

Acquisition of global attachments manufacturer set to strengthen Epiroc’s presence in the US market

SWEDEN-based Epiroc have signed an agreement to purchase Stanley Infrastructure, global manufacturers of excavator attachments and handheld hydraulic/battery operated tools, from US-based Stanley Black & Decker Inc, at a cost of Swedish Krona (SEK) 7.8 billion (£600 million). Epiroc say the acquisition will strengthen their presence in the attachments business in infrastructure and construction, especially in the US.

Headquartered in Milwaukie, Oregon, Stanley Infrastructure design, manufacture, and sell attachments, typically used on excavators, and handheld hydraulic and battery-powered tools for construction, demolition, scrap recycling, and railroad infrastructure applications. The company’s brands include LaBounty, Paladin, Pengo, and Dubuis.

‘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,’ said Helena Hedblom, Epiroc’s president and CEO. ‘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.

’Our product portfolios complement each other very well, and this fills some important gaps in our current offering. In addition, we gain access to a broad indirect sales network, which will further diversify and strengthen our footprint. Infrastructure and construction have attractive drivers, including urbanization and scrap recycling for steel production, which will support long-term growth.’ 

According to Epiroc, the acquisition is an all-cash transaction with secured financing through a bridge facility. The acquisition is subject to customary regulatory filings and is expected to be completed in the first quarter of 2024.