Tool maker Stanley Black & Decker said it has reached an agreement to sell its Consolidated Aerospace Manufacturing (CAM) business to Howmet Aerospace for $1.8 billion in cash.

CAM provides critical fasteners, fittings and other engineered components for the aerospace and defense industries. CAM is known for its portfolio of brands that include Aerofit, Voss and QRP and its focus on high-performance, complex solutions for major aircraft platforms. Meanwhile, Howmet is a producer of aero engine and industrial gas turbine components, including airfoils, rings, disks and forgings.

Chris Nelson, Stanley Black & Decker’s President & CEO, stated, “Divesting CAM reflects our ongoing dedication to enhancing shareholder value and focusing on growing our biggest brands and businesses,” Stanley Black & Decker President and CEO Chris Nelson said in a Dec. 22 news release, adding that the proceeds are expected to significantly reduce company debt and achieve target leverage ratio of 2.5 times debt to adjusted EBITDA. “After achieving this critical financial goal, we will have greater flexibility to pursue additional value-creation opportunities through a more agile capital allocation strategy. I am confident that CAM, along with its talented team, will thrive as part of Howmet Aerospace.”

CAM is expected to generate fiscal year 2025 revenue of approximately $405 to $415 million, with an adjusted EBITDA margin percentage approaching the high-teens.

Until the transaction closes, the results of CAM will remain in continuing operations and will not be reclassified as discontinued operations. The transaction is expected to close in the first half of 2026 and is subject to regulatory approval and other customary closing conditions.