Stanley Black & Decker Inc. is in discussions to acquire aircraft components maker Consolidated Aerospace Manufacturing LLC, Reuters reported, citing people familiar with the matter.
The potential deal would help Stanley Black & Decker venture into the aerospace industry, the report noted.
Consolidated Aerospace Manufacturing's portfolio includes fittings, hardware, fasteners and engineered products for the aerospace sector. The Brea, Calif.-based company is owned by Tinicum Inc., a New York-headquartered private equity firm.
Stanley Black & Decker won against private equity firms in a bidding process and is looking to reach an agreement as soon as January, according to Reuters' sources. Stanley Black & Decker could value Consolidated Aerospace Manufacturing at more than $1 billion, including debt.
New Britain, Conn.-based Stanley Black & Decker is a global provider of industrial tools, household hardware, security products and healthcare solutions.