Stanley Black & Decker will utilise the proceeds to reduce debt. Credit: Epiroc.

Swedish mining and construction provider Epiroc has completed the acquisition of STANLEY Infrastructure from Stanley Black & Decker.

This move is expected to bolster Epiroc’s position in the infrastructure and construction attachments market, particularly in the US. 

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Epiroc develops and provides equipment such as drill rigs, as well as rock excavation and construction equipment and tools for surface and underground applications. 

US-headquartered STANLEY Infrastructure was a division of Stanley Black & Decker’s Industrial business segment before the acquisition.  

The company specialises in designing, manufacturing, and marketing excavator attachments and handheld hydraulic and battery-powered tools.  

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These products are used across various sectors, including construction, infrastructure, demolition, and scrap recycling. 

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STANLEY Infrastructure includes brands such as LaBounty, Paladin, Pengo, and Dubuis. 

It operates ten production facilities across the US, Canada, France, and China, with the majority of its revenues stemming from North America. 

Initially announced on 15 December 2023, the acquisition carried a purchase price of $760m and has been conducted as an all-cash transaction.  

Stanley Black & Decker intends to use the cash proceeds to reduce its debt. 

Epiroc plans to provide more detailed financial information during its Q1 2024 results presentation on 23 April.  

Earlier this year, Epiroc supplied multiple battery-electric vehicles (BEVs) to the AF Ghella joint venture for water tunnel construction in Oslo, Norway.  

This deployment marks the debut of Epiroc’s BEVs in the civil construction sector.