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Company makes first acquisition since revealing plans to grow its security division
NEW BRITAIN, Conn.-The Stanley Works has stepped forward with its first acquisitions since releasing the details of its security business plan in late September.
The company entered into a definitive agreement to acquire Security Group-an organization comprised of two primary companies, Sargent & Greenleaf and The Safemasters Co.-and Cal-Dor Specialties, a security product and service provider, for $56 million.
According to Philip Bradney, chief operating officer with Stanley Security Solutions, the Security Group transaction expands Stanley's current product offerings and security solutions and assists with the company's goals to grow the security...