Stanley to acquire Infologix
New Britain, Conn.-based Stanley Black & Decker announced it has entered into a deal to acquire Hatboro, Pa.-based Infologix, a provider of enterprise mobility solutions for the healthcare and commercial industries.
According to Stanley, the total transaction value is approximately $61.2 million, including the assumption of debt, of which approximately $22.1 million is currently outstanding and a portion of which is convertible into shares of common stock of InfoLogix.
The acquisition will help grow Stanley’s existing Healthcare Solutions business by adding an established provider of mobile workstations and asset tracking solutions.
"The acquisition of InfoLogix is consistent with Stanley Black & Decker’s portfolio diversification strategy and continues the expansion of one of our growth platforms, Stanley Healthcare Solutions," said Brian Kaner, CFO and COO of Stanley Convergent Security/Healthcare Solutions. "Offering strategic technology consulting services will enable Stanley Healthcare Solutions to assist clients in improving workflow, productivity and profitability through complete enterprise mobility solutions. With a strong leadership team and talented employee base, we plan to leverage InfoLogix’s expertise in mobility solutions, clinical integration services, and mobile managed services in expanding our growing security and healthcare businesses."
The transaction is scheduled to close early in the first quarter of 2011.
Indiana store’s inventory set for auction
An auction to sell off the remaining inventory of Terre Haute, Ind.-based retailer Paitson Bros. Ace Hardware has been set for Dec. 18, according to the Tribune Star.
The store, which closed its doors in July for remediation after a leaky roof caused air quality issues, was in legal dispute with the landlord over who would pay for the repairs. At the time, owner Chuck Procarione said he had hoped to re-open the store, which employed approximately 25 people, after the repairs were made and the dispute was settled.
McGuckin Hardware grows over 50 years
Boulder, Colo.-based hardware retailer McGuckin Hardware has come a long way since Dave Hight took over the business from his father-in-law Bill McGuckin in 1960. The store has grown from doing $165 worth of business per day, to a 60,000-sq.-ft. location with more than 260 employees, according to Colorado’s Channel 9 News.
Today, Dave’s son Barry runs the store, and his grandson Jason also works there.