Howmet Aerospace Inc. today announced it has entered into a definitive agreement to acquire Consolidated Aerospace Manufacturing, LLC (CAM), a leading global designer and manufacturer of precision fasteners, fluid fittings, and other complex, highly engineered products for demanding aerospace and defense applications, from Stanley Black & Decker, Inc. for an all-cash purchase price of approximately $1.8 billion. The transaction will receive favorable treatment for federal tax purposes, which will result in a significant tax benefit for Howmet.

Howmet expects CAM to generate FY 2026 revenue of approximately $485 to $495 million, with adjusted EBITDA margin in excess of 20% before synergies. The combination of synergies and the aforementioned tax benefit is expected to result in a FY 2026 adjusted EBITDA transaction multiple of approximately 13x.

“The acquisition of CAM is a major step in our strategy to build out our differentiated fastener portfolio,” said John C. Plant, Executive Chairman and Chief Executive Officer of Howmet Aerospace. “CAM’s established brands, engineering prowess, and deep customer relationships are a perfect complement to our existing business. This transaction will allow us to better serve our aerospace and defense customers with a broader offering of mission-critical fastening solutions and represents a compelling use of capital to drive value for our shareholders.”

The transaction is expected to close in the first half of 2026, subject to customary closing conditions and regulatory approvals.

J.P. Morgan Securities LLC is serving as financial advisor to Howmet Aerospace, and Cleary Gottlieb Steen & Hamilton LLP is serving as legal counsel.