Exclusive: Stanley Black & Decker may bid for Niscayah

NEW YORK/STOCKHOLM (Reuters) - Stanley Black & Decker Inc (SWK.N) is considering a bid for Niscayah NISCb.ST, people familiar with the matter said, possibly mounting a challenge to an offer for the Swedish security firm by Securitas AB (SECUb.ST).

Stanley Black & Decker, a diversified industrials company, has hired JPMorgan Chase & Co (JPM.N) and Barclays (BARC.L) to advise it on a possible bid, these people said this week.

Stanley Black & Decker's products include tools for consumer, construction and industrial uses as well as security systems and services. A possible bid for Niscayah is the latest sign that the company is looking to diversify its business after a large deal last year saw it double-up in the tools segment.

But a rival bid for Niscayah by Stanley Black & Decker could be complicated by the fact that Swedish businessmen Gustaf Douglas and Melker Schorling are the largest shareholders in both Securitas and Niscayah.

Douglas and Schorling, who own nearly 42 percent of the voting stock at Securitas, also own more than 43 percent of Niscayah's voting stock.

Securitas spun out Niscayah in 2006, but last month said doing that was a mistake and launched an all-share bid worth about 5.6 billion crowns ($864 million) at the time.

Securitas said at the time that some of Niscayah's largest shareholders -- Latour (LATOb.ST), SakI SAEK.ST and MSAB (MELK.ST) -- supported the offer.

Stanley Black & Decker, Barclays and JPMorgan declined to comment.

Stanley Works closed on a $3.5 billion deal to buy Black & Decker last year to create Stanley Black & Decker.

The company has continued its diversification efforts since, buying other companies such as pipeline construction equipment supplier CRC-Evans International for $445 million last year.

Niscayah provides high-tech IT-based security and surveillance solutions.

Stanley Black & Decker also has teamed up with private equity firms Carlyle Group CYL.UL and Clayton Dubilier & Rice to bid for alarm firm Securitas Direct, valued at $3 billion or more, other sources told Reuters last month. Securitas Direct is owned by private equity firm EQT.

These bids follow three other acquisitions earlier this year by the company in the security segment, which contributed about 20 percent of its total sales in the first quarter.

The security division, which is known for door and safe lock brands such as Best, Kwikset, Baldwin and Weiser, posted a 35 percent rise in sales to $557 million in the first quarter.

Lazard (LAZ.N) is advising Niscayah on the offer from Securitas.

Stanley Black & Decker's shares closed down 1.4 percent, or 96 cents, to $67.73 on the New York Stock Exchange.

(Reporting by Soyoung Kim and Paritosh Bansal in New York, Sven Nordenstam in Stockholm, and Bijoy Koyitty in Bangalore; Editing by Phil Berlowitz and Carol Bishopric)