Stanley Black & Decker to acquire Boeing CAM supplier for up to $ 1.5 billion

Stanley Black & Decker Inc. SWK,
on Wednesday announced that it had agreed to acquire Boeing’s supplier, Consolidated Aerospace Manufacturing LLC, for up to $ 1.5 billion. The agreement is subordinate to BA Boeing,
737 MAX returned to service and on the aerospace giant meeting certain production targets. CAM manufactures specialty fasteners and other parts for the aerospace and defense markets and has generated sales of $ 375 million in the past 12 months. The deal is expected to increase EPS by about 30 to 40 cents by the third year after closing. It will be part of Stanley Black & Decker’s fastening and technical components business portfolio. The company unveiled the deal as it reported fourth quarter results posting net income of $ 199.1 million, or $ 1.32 per share, after a loss of $ 106.0 million, or 72 cents per share, during the period of the previous year. Adjusted earnings per share was $ 2.18, which matches the FactSet consensus of $ 2.18. Sales reached $ 3.714 billion from $ 3.635 billion, below the FactSet consensus of $ 3.782 billion. Stocks were not active prior to market, but have gained 33% over the past 12 months, while the S&P 500 SPX,
+ 0.20%
gained 24%.

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