Stanley Works Completes Acquisition of Sonitrol Corporation
New Britain, CT (July 18, 2008) — The Stanley Works (NYSE: SWK) announced today that it has completed its previously announced purchase of Sonitrol Corporation from an ownership group comprised of Carlyle Venture Partners, Wachovia Capital Partners and Spire Capital Partners as well as selected members of Sonitrol management for $275 million cash, subject to customary adjustments. Sonitrol provides security monitoring services, access control and fire detection systems to commercial customers in North America via two monitoring centers and a national multi-channel distribution network.
Additional Information About The Stanley Works
The Stanley Works, an S&P 500 company with 2007 revenues of $4.5 billion, is a diversified worldwide supplier of tools and engineered solutions for professional, industrial, construction and do-it-yourself use, and access security solutions for commercial applications. Additional information about The Stanley Works, including corporate press releases, can be found at www.stanleyworks.com.
Stanley Convergent Security Solutions, part of the Stanley Works, is a true coast-to-coast full service electronic security provider with over 75 local offices serving over 120 major metropolitan markets in North America. As a security provider with over 75 local offices serving over 120 major metropolitan markets in North America. As a comprehensive security provider they design, install, monitor and service security systems that are the "Best fit" for commercial, industrial, government, residential and national account customers. For more information about Stanley CSS, please visit our website, www.stanleycss.com.
Under the Private Securities Litigation Reform Act of 1995
Statements in this press release that are not historical in nature, are “forward looking statements” and subject to risk and uncertainty.
The risks, uncertainties and other factors that could cause or contribute to actual results differing materially from those expressed or implied in any forward looking statements include, without limitation, those set forth under Item 1A Risk Factors of the Company’s Annual Report on Form 10-K and any material changes thereto set forth in any subsequent Quarterly Reports on Form 10-Q, those contained in the Company’s other filings with the Securities and Exchange Commission, and those external factors set forth below.
These external factors include pricing pressure and other changes within competitive markets, increasing competition, changes in trade, monetary, tax and fiscal policies and laws, inflation, currency exchange fluctuations, the impact of dollar/foreign currency exchange and interest rates on the competitiveness of products and the Company’s debt program, the strength of the U.S. economy and the impact of events that cause or may cause disruption in the Company’s manufacturing, distribution and sales networks such as war, terrorist activities, political unrest and recessionary or expansive trends in the economies of the world in which the Company operates.
The Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that may arise after the date hereof.