August 23, 2010
Stanley Black & Decker, based on New Britain, Conn., has acquired CRC-Evans Intl., a global supplier of specialized tools, equipment, and services for the construction of large-diameter oil and natural gas transmission pipelines.
Stanley Black & Decker President and CEO John F. Lundgren commented, "This is a financially and strategically compelling transaction for Stanley Black & Decker. CRC-Evans is a highly profitable, growth-oriented company with outstanding value propositions and strong customer relationships. As we continue our strategy to diversify outside of construction and do-it-yourself (CDIY) and industrial tools, we see this acquisition as an important step in building our infrastructure solutions business through acquisitions."
CRC-Evans, based in Houston, sells and rents custom pipe handling and joint welding and coating equipment.
Stanley Black & Decker is a global provider of hand tools, power tools and related accessories, mechanical access systems and electronic security systems, engineered fastening systems, and infrastructure systems.