Stanley Black & Decker’s $234 Million Investment in MTD Products


Stanley Black & Decker announced that it has entered into a definitive agreement to acquire a 20 percent stake in MTD Products Inc (“MTD Products”), a privately held global manufacturer of outdoor power equipment, for $234 million in cash.

Under the terms of the agreement, Stanley Black & Decker has the option to acquire the remaining 80 percent of MTD beginning on July 1, 2021. Cravath is representing Stanley Black & Decker in connection with the transaction.

Stanley Black & Decker Inc. is a diversified global provider of hand tools, power tools and related accessories, mechanical access and electronic security solutions, healthcare solutions, engineered fastening systems, and more. The company, led by James Michael Loree, Mark Maybury and Allison A Nicolaidis, in 2017 recorded $13 billion Revenues.

The Cravath team is led by partners Robert I. Townsend III and Thomas E. Dunn and includes associates Matthew G. Jones, Devon A. Klein, Rami Totari, Shawn M. Quinn and Aashim Usgaonkar on M&A matters; partners Stephen L. Gordon and Kara L. Mungovan and associate Cecily Xi on tax matters; partner Matthew Morreale and senior attorney Annmarie M. Terraciano on environmental matters; partner Eric W. Hilfers, senior attorney M. C. Tania Balthazaar and associates Daniel P. Herrmann and Peretz Riesenberg on executive compensation and benefits matters; partner Rachel G. Skaistis and associate Jenny X. Zhang on compliance matters; partner David J. Kappos and associate Jessica M. Goodman on intellectual property matters; and practice area attorney Brian M. Budnick on real estate matters.

Involved fees earner: Robert Townsend III – Cravath Swaine & Moore; Thomas Dunn – Cravath Swaine & Moore; Matthew Jones – Cravath Swaine & Moore; Devon Klein – Cravath Swaine & Moore; Rami Totari – Cravath Swaine & Moore; Shawn Quinn – Cravath Swaine & Moore; Aashim Usgaonkar – Cravath Swaine & Moore; Stephen Gordon – Cravath Swaine & Moore; Kara Mungovan – Cravath Swaine & Moore; Cecily Xi – Cravath Swaine & Moore; Matthew Morreale – Cravath Swaine & Moore; Annmarie Terraciano – Cravath Swaine & Moore; Eric Hilfers – Cravath Swaine & Moore; Tania Balthazaar – Cravath Swaine & Moore; Daniel Herrmann – Cravath Swaine & Moore; Peretz Riesenberg – Cravath Swaine & Moore; Rachel Skaistis – Cravath Swaine & Moore; Jenny Zhang – Cravath Swaine & Moore; David Kappos – Cravath Swaine & Moore; Jessica Goodman – Cravath Swaine & Moore; Brian Budnick – Cravath Swaine & Moore;

Law Firms: Cravath Swaine & Moore;

Clients: Stanley Black & Decker;

Author: Ambrogio Visconti