On April 22, 2022, Stanley Black & Decker announced the sale of its automatic doors business, Access Technologies, to Allegion plc for $1.14 billion (US$900 million) in cash. This strategic move, disclosed as part of an active portfolio management approach, involves offloading a business that reported $431 million (US$340 million) in revenue for 2021 with a mid-teen adjusted EBITDA margin. CEO James M. Loree highlighted the transaction as evidence of the company's commitment to maximizing shareholder value and funding capital returns. The sale is expected to contribute to Stanley Black & Decker’s focused portfolio strategy, aimed at enhancing opportunities for growth and margin expansion in its Tools & Outdoor and Industrial segments.

Access Technologies, a pioneer of the hands-free door operator in 1931, has evolved into a leader in advanced, fully integrated automatic door solutions. The transaction represents the divestiture of the last component of Stanley Black & Decker's Security segment, following a previous agreement to sell its Commercial Electronic and Healthcare Security businesses to Securitas.

The proceeds from the sale are earmarked for a significant share repurchase program and debt reduction, aligning with the company’s broader capital allocation strategy to deliver substantial capital returns and maintain strong investment-grade credit ratings. The transaction is pending regulatory approval and customary closing conditions, with Access Technologies set to be classified as discontinued operations in the upcoming first-quarter earnings report on April 28, 2022.