New Britain’s Stanley Works and Black & Decker Corp. have named the executives — mostly from Stanley — who will lead the effort to integrate the two companies once their $4.5 billion merger closes next year, the Baltimore Business Journal reports.
Stanley, the smaller of the two tool giants, and Black and Decker, based in Towson, Md., announced their planned merger on Nov. 2. The deal, subject to regulatory and shareholder approval, is expected to close in the first half of 2010.
The merged company will be called Stanley Black & Decker.
The pair have formed a six-person Integration Steering Committee of executives from both companies, according to a filing with the Securities and Exchange Commission, the newspaper reports on its Web site.
The committee, which will meet weekly, is headed by Stanley CEO John F. Lundgren and Black and Decker CEO Nolan D. Archibald, according to the BBJ.
The other members are all from Stanley Works – James M. Loree, Stanley’s chief operating officer; Donald Allan Jr., chief financial officer; Massimo Grassi, president of European operations and Mark J. Mathieu, vice president of human resources.
Bain and Co., a management consulting firm, is advising the two companies on the integration process, the newspaper said.
The six-person committee will oversee the work of an Integration Management Office that will be headed by Brett Bontrager, a Stanley executive, and Tony Milando, a Black and Decker executive. Thirteen teams, that will look at everything from human resources to Latin American operations, will report to Bontrager and Milando’s group.
Milando is global vice president, operations, for Black and Decker’s Power Tools business.
Bontrager is president of Stanley Convergent Security Solutions and vice president of business development. He led Stanley’s integration efforts following 56 previous acquisitions since 2002, including its 2005 acquisition of Facom Tools from Fimalac, a French company.
The Facom Tools acquisition, which was valued at $494 million at the time it was announced, was Stanley’s largest, until its merger with Black and Decker, the BBJ said.
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