Clifford Chance

Clifford Chance advises Asia Trading Holdings Limited on sale of global fastener business

Leading international law firm Clifford Chance has acted for Asia Trading Holdings Limited, an entity controlled by funds advised by CVC Capital Partners Limited (CVC) and Standard Chartered Private Equity Limited (SCPEL), on its divestment of Infastech to Stanley Black & Decker, Inc. Infastech, based in Singapore, is one of the world’s largest producers of engineered mechanical fasteners with revenues exceeding USD$500 million.

Bank of America Merrill Lynch and Goldman Sachs (Asia) LLC acted as co-financial advisors on the deal. In August 2010, the Firm advised CVC and SCPEL on its acquisition of the global fastener business, previously named Avdel and Global Electronics & Commercial.

"We're delighted to have assisted CVC and SCPEL full cycle with this project starting with the acquisition in 2010 and now with the sale. This deal follows the trend we've been witnessing for some time now of private equity exits in the region," said partner Neeraj Budhwani, who co-led the team on this deal.

Neeraj and partner Andrew Whan co-led the transaction and were assisted by senior associates Satbir Walia and Derek Hung.