American toolmaker, Stanley Black & Decker Inc., recently announced that it’s acquiring Boeing Co BA.N supplier Consolidated Aerospace Manufacturing (CAM) for as much as $1.5 billion. The transaction is subject to regulatory approvals and other customary closing conditions. For example, the agreement is partially based on Boeing’s challenged 737 MAX aircraft meeting certain production goals to return to service.

CAM designs and manufactures highly engineered hardware and fastener solutions for demanding aerospace applications worldwide. The company’s products include fasteners, fittings, couplings, latches, quick release pins, tubing subassemblies, and other complex components and assembled products.

“We are extremely pleased to be taking this next step of joining Stanley Black & Decker. Being part of such a capable industrial company will enable us to further expand our company’s resources globally, including accelerating the development of new products and pursuing acquisitions, allowing us to better serve the needs of our customers,” said Peter George, CEO of CAM.

CAM is controlled by Tinicum L.P. and affiliated partnerships managed by Tinicum Inc. The company was founded in 2012 and has consolidated eight businesses that each carry strong brands, industry leading technical expertise, deep customer relationships, and over 40 years of history in providing service and solutions to commercial aerospace and defense customers.

“We specialize in collaborating with our customers to develop application-based solutions that satisfy their specific needs,” added George. “We have enjoyed tremendous support under the ownership of Tinicum, during which we invested heavily in upgrading the equipment and facilities of the businesses we integrated, in addition to strengthening our engineering and management resources.”

“Our team is excited about the prospect of welcoming CAM to the Stanley Black & Decker family to further diversify our Industrial business segment,” said STANLEY Industrial President John Wyatt. “With its well-recognized brands, proven business model and experienced management team, CAM will play a significant role in the growth of our Industrial business and company overall.”