Two rival consortiums — including New Britain’s Stanley Black & Decker Corp. — are set to bid for Swedish alarms firm Securitas Direct, despite a late exit by private equity firm Clayton Dubilier & Rice from one of the bidding groups, Reuters reports, citing people familiar with the situation said.
Stanley Black & Decker, the hand- and power-tool maker, is expected to bid with U.S. private equity group Carlyle for the business, owned by Swedish private equity group EQT, two of the people said.
Stanley also markets home-security hardware and systems.
A second consortium of Bain and Hellman & Friedman is also expected to make a bid by Monday’s deadline, the people said.
Bain, Hellman & Friedman and Clayton Dubilier & Rice declined to comment. Carlyle and Stanley Black & Decker were unavailable to comment.
A Stanley spokesman did not immediately return HBJ Today’s call Tuesday for comment.
Clayton Dubilier & Rice had been working with Carlyle and power tools maker Stanley Black & Decker on a joint bid after all three progressed into the second round of the sale process.
The firm, which in May teamed up with Axa Private Equity to acquire engineering firm Spie, recently pulled out of the process, leaving its two partners to continue alone, the people said.
