Stanley Black & Decker has leased a 6,600 sq ft space to be used as the headquarters of Stanley Engineered Fastening in Towson, MD, spokesman Tim Perra told the Baltimore Sun.

“The company will occupy the entire top floor of the building with plans to move into the new location around April,” writes reporter Margarita Cambest.

The five-story, 30,000 sq ft commercial office building recently underwent a $1 million face-lift, according to the Sun.

In December 2017, Stanley Black & Decker agreed to acquire Nelson Fastener Systems from Doncasters Group for $440 million in cash. The sale, which does not include Nelson’s automotive stud welding business, is expected to close in the first half of 2018.

During the final quarter of 2017, Stanley Black & Decker’s Engineered Fastening organic revenues increased 1% “as automotive fastener penetration gains, which enabled growth in excess of light vehicle production, and strong volume growth in general industrial markets more than offset the impact from lower self-piercing rivet system shipments in automotive and lower volumes within electronics.”

Industrial segment revenue, including results from fasteners, increased 4.3% to $473.5 million in Q4, as volume (+2%) and currency (+3%) were moderated by divestitures (-1%). Q4 segment profit improved 9.5% to $75.8 million.

Full-year Industrial segment revenue rose 5.8% to $1.95 billion, with segment profit growing 15.7% to $352.3 million. Web: StanleyBlackandDecker.com