Doncasters Group has announced the successful completion of the sale of the Nelson Fastener Systems business to Stanley Black & Decker Inc.
Doncasters has retained the Nelson Automotive stud welding and equipment business as part of its Speciality Automotive division.
David Smoot, Doncasters CEO, said: “We look forward to continuing a very successful relationship with the customers of the automotive stud welding and equipment business as we focus on delivering exceptional service and value to the stakeholders within our core markets.”
The sale is part of Doncasters’ efforts to drive growth in its business by focusing on its core specialised markets: aerospace, industrial gas turbine and speciality automotive. This transaction enables Doncasters to pay down some existing debt as well as provide necessary capital to further invest in these markets.
