Stanley to close Niscayah deal tomorrow
STOCKHOLM—Stanley Black & Decker executives are here today preparing for the Sept. 9 closing of its $1.2 billion cash offer purchase of Niscayah.
“Expect to see visible steps soon, with significant work being completed within the first year of closing,” Tony Byerly, president Stanley CSS North America & United Kingdom, told Security Systems News in an email interview. “We have clear integration objectives with financial commitments for the short and long term and we expect a seamless and timely integration process. The key will be to ensure a seamless integration process for our customers.”
Byerly called the integration of Niscayah into Stanley Convergent Security Solutions an important step in further strengthening Stanley CSS as a global security enterprise. “Since customers, employees and strategic partners are the key components to making the acquisition a success, in the integration process we will take the time to consider all parties,” he said. Stanley will assemble leaders and team members from both companies for “key roles in identifying integration benefits, integration implementation and operating the new entity. Our goal for the newly combined entity long term is to have the most comprehensive and compelling security portfolio of offerings and capabilities globally for our customers.”
Byerly pointed out that Niscayah will be Stanley Black & Decker’s largest security acquisition to date. Asked how the integration process would compare to the HSM integration, Byerly said: “Similar to HSM, Niscayah has a rich security history, an impressive customer set and a reputation for quality work. One difference is that Niscayah is predominantly a pan-European company that will complement and greatly expand Stanley CSS’ European operations. Like the other Stanley CSS global acquisitions, such as GdP and ADT France, the international element will definitely make for a more robust integration.”
Stanley Black & Decker announced Sept. 2 that the all conditions for the acquisition had been satisfied. Stanley says it now has 94.9 percent of Niscayah’s outstanding shares (as the result of shares tendered in the offer and shares acquired outside of the offer). While the closing is scheduled for tomorrow, Stanley has extended the acceptance period to Sept. 23 for shareholders who have not yet submitted their acceptance.