It will be run by Greg Gluchowski, who currently serves as the unit's president at Stanley Black & Decker. Gluchowski will report to Spectrum CEO David Lumley.
The deal announced Tuesday also includes certain assets of Taiwan's Tong Lung Metal Industry Co., which makes residential and commercial locksets. Stanley Black & Decker purchased Tong Lung over for summer for about $100 million. Spectrum's acquisition of the Tong Lung assets is anticipated to close in the second quarter.