Stanley Works Closes on Sonitrol

The Stanley Works (NYSE: SWK) has completed its acquisition of Sonitrol Corp. from Carlyle Venture Partners, Wachovia Capital Partners, Spire Capital Partners and Sonitrol management. The deal was valued at $275 million in cash. Sonitrol is a Berwyn, Penn.-based provider of security monitoring services, access control and fire detection systems to commercial customers in North America. It had been acquired by the PE firms in 2004 from Tyco for approximately $125 million, and had already paid out a dividend.

 

PRESS RELEASE

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 $276 million cash. Sonitrol, headquartered in Berwyn, PA, 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.

 

The company also announced that it has completed its previously announced purchase of Xmark Corporation, a wholly-owned subsidiary of VeriChip Corporation (Nasdaq: CHIP) for $48 million cash, which consists of the $45 million agreed purchase price plus a balance sheet adjustment of approximately $3 million (a portion of which reflects the net cash position of Xmark as of the closing). Xmark, whose headquarters and principal operations are located in Ottawa, Canada develops, markets and sells RFID-based systems used to identify, locate and protect people and assets.

 

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.