CVC Capital Partners ("CVC") today announced that Stanley Black & Decker, Inc. (NYSE: SWK) ("SBD") has entered into a definitive agreement with Asia Trading Holdings Limited ("ATHL"), owned indirectly by funds advised by CVC, to acquire the Infastech group of companies ("Infastech") for US$850 million. Headquartered in Hong Kong, Infastech is one of the world's largest producers of engineered mechanical fasteners with annual revenues exceeding USD$500 million.

Randy Teo, CEO of Infastech, commented, "The acquisition of Infastech by Stanley Black & Decker is a major step forward for our business and will provide excellent growth opportunities. Our integration into Stanley's Engineered Fastening Systems Platform will extend our product portfolio and global network for accelerated growth. Over the past 2 years we have benefited from a fruitful partnership with CVC and their support has been an important part of our growth into a leading innovator of mechanical fasteners."

Hans Wang, Senior Managing Director at CVC, said, "We are very pleased with this transaction. Since our investment we have partnered with Randy Teo and his team to integrate Infastech into one global company, driven by product innovation, customer focus, and expansion into new markets and verticals. Management has achieved considerable growth under this strategy. With this transaction, Infastech now has an excellent platform for further growth as a part of the Stanley Black & Decker family. The CVC team wishes the Infastech team continued success and growth."

In August 2010, CVC led and completed the acquisition of Acument Global Technologies' Avdel® and Global Electronics & Commercial ("GEC") business units and integrated the two businesses to form Infastech.

With heritage dating back to 1922 and lead brands iFormTM, ELCO® and Avdel®, Infastech provides innovative fastening technologies and solutions to numerous industries including electronics, construction, automotive, industrial and commercial. The company has operations, sales and distribution capabilities in Australia, China, Hong Kong, India, Japan, South Korea, Malaysia, Singapore, Taiwan, Thailand, North America, South America, the UK and Europe. The organization has more than 2,000 employees globally and serves customers in more than 150 countries.

The transaction is subject to approval by certain competition authorities. Following the close of the transaction, Infastech will be combined with SBD's fastener unit, Emhart Teknologies.