Done deal: Spectrum completes purchase of SWK group
Spectrum Brands Holdings, a global consumer products company, said it completed the acquisition of the Hardware & Home Improvement Group (HHI) of Stanley Black & Decker, Inc. for $1.4 billion in cash.
The agreement was first announced back on Oct. 9.
HHI is a major manufacturer and supplier of residential locksets, residential builders’ hardware and faucets with leading positions in key North American markets and a portfolio of renowned brands, including Kwikset, Weiser, Baldwin, National Hardware, Stanley, Fanal, Pfister and EZSet.
HHI is a leader in its key markets with leading positions in U.S. residential locksets (Kwikset), Canada residential locksets (Weiser), U.S. luxury locksets (Baldwin), and U.S. builders’ hardware (Stanley/National Hardware), and a top 5 position in U.S. faucets (Pfister).
“We are pleased to have closed on our HHI acquisition, and with attractive debt financing, before the end of 2012, as we had originally anticipated,” said Dave Lumley, Chief Executive Officer of Spectrum Brands Holdings. “HHI brings us scale and greater product diversity, more balance in our sales profile, stronger relationships with core retail partners, attractive cross-selling opportunities in all channels, and a new platform for significant future global growth using Spectrum Brands’ existing international infrastructure, most notably in Europe.”
Lighting Science names new CEO
Satellite Beach, Fla.-based Lighting Science Group Corp. named Jeremy Cage as CEO, effective Jan. 2.
Cage replaces Brad Knight, who served as interim CEO while the board worked with an executive search firm, and who will continue to serve as COO of the company that designs, develops, manufactures and markets LED lighting solutions.
Cage was selected to lead the company based on his experience in building major brands, his success in developing commercially appealing technologies and bringing them to market, as well as his distinguished track record of strengthening business models and improving operational efficiencies.
“We are delighted to have Jeremy join the Lighting Science team,” said Nic Brathwaite, chairman of the Lighting Science board of directors. “Jeremy is a proven strategic thinker, inspiring leader and brand builder, who has successfully introduced major innovations at some of the world’s best-known companies, resulting in accelerated sales volume, profit and market share growth. We are confident that he will do the same at Lighting Science.”
Over the past decade, Cage served in key executive positions at PepsiCo, including senior VP innovation and insights for its U.S. Beverage business, chief marketing officer of International Foods, and, most recently, senior VP of the Global Snacks Group, where he was responsible for developing breakthrough strategies, brand plans and innovation programs for the beverage giant. While heading up innovation for its U.S. beverages unit, Cage implemented a new innovation approach that yielded many breakthroughs, including the company’s industry-leading Dream Machine Recycling program.
Top 10 design trends? A remodeler’s list
Portland, Ore.-based Neil Kelly Co., a design-build remodeling firm that has remodeled more than 30,000 homes, announced its Top 10 interior design trends for 2013.
Twenty of the firms design professionals who shared their knowledge based on working with material suppliers and vendors came up with the following list:
10. Kitchen cabinets
A clean, simple, contemporary look will be popular with homeowners looking to economize and eliminate unnecessary clutter and fussy details that equate to high maintenance and complicated living. For those who don’t want to spring for new cabinetry, re-facing or refinishing cabinets offers more bang for the buck.
Granite has been dethroned. While granite isn’t going away and still has many die-hard fans, the new king of countertops will be quartz composite — the closest thing to no-maintenance, bullet-proof countertop materials available today.
8. Hardwood floors
Pre-finished and engineered wood flooring will become more popular than the once gold-standard of site-finished flooring. Pre-finished woods provide a hard, durable finish; are an installation time saver; and eliminate the sanding dust dilemma. Engineered wood floors are also compatible with under-floor heating systems, a big plus in cold climates.
7. Glass backsplashes
Glass mosaic tile is on the way out. Taking its place are glass/stone/tile mosaic composites that can add more texture and visual interest and that tie in more readily with stone or quartz countertops. Be on the lookout for back-painted, solid glass panel backsplashes in contemporary settings, which provides an ultra-clean, almost ethereal look to a polished, modern kitchen setting.
6. Stylishly simple sinks
Goodbye double-sinks, hello deep single-bowl sinks. With accessories such as fitted colanders and dish drains, deep single-bowl sinks have all the benefits of a divided sink, plus the large size to actually fit that roasting pan or those baking sheets into the sink all at once. Stainless is still popular, but the quartz composites are a great value and durable option.
5. Color palette
Charcoal is the new black. 2013 will find this silky color everywhere as it blends the right amount of chocolate, gray and a touch of green.
4. Bathroom stone
Synonymous with luxury, Calacatta marble will find its way into both traditional and contemporary bathrooms. Calacatta is a rarer stone than Carrara marble, but is quarried in the same region. It is valued for a whiter background and bolder grey veins.
3. Texture and sparkle
Bedazzled may find its way into home decor and design as homeowners seek a blend of classic textures and colors with pops of bold color and elements of sparkle. Glossy glass tile backsplashes and sparkle on polished nickel fixtures trend in 2013.
2. Living in your home longer/Multi-generational living
With many certified aging-in-place specialists (CAPS), Neil Kelly designers predict a growing trend to help aging baby boomers safely "grow old" in their homes, for as long as possible. Watch for easy kitchen and bath upgrades to enhance functionality, comfort and safety.
1. Healthy home, healthy living
Green and sustainable design is here to stay. The No. 1 trend for 2013 will be to create a healthy living environment, free of toxins and harsh chemicals. More and more homeowners are taking advantage of federal and state incentives to evaluate their home’s energy efficiency and overall performance. Upgrade trends include the use of low-VOC materials to improve indoor air quality, testing combustion safety and radon mitigation.
While every homeowner has specific ideas on style, the overall trend is toward simpler living and low-maintenance design, but with accent marks of color and splash that don’t overpower. This esthetic extends from clean and simple kitchen cabinetry to "bulletproof" countertops, pre-finished wood flooring and solid "pops" of glass, color and sparkling textures. The trend toward simplicity is also manifested in a growing demand for safer, healthier and more sustainable homes.