3M to acquire Scott Safety
3M Co. has agreed to acquire Scott Safety from Johnson Controls for $2 billion in a deal that would make 3M the largest personal protection equipment maker in the USA.
The deal announced Thursday March 16 will be the second largest acquisition in 3M’s history and will greatly expand its worker safety product offerings, especially in breathing and gas detection devices.
If the deal is completed in the second half of the year as expected, the North Carolina-based Scott Safety will add 1,500 employees and $570 million in annual revenue to 3M’s coffers.
The news was welcomed by industry analysts who noted that 3M has worked hard to expand its worker safety products. In its largest deal to date, 3M bought Capital Safety for $2.5 billion 19 months ago to gain a huge presence in the fall protection and worker-harness arena.
Now, it’s greatly expanding its firefighter breathing products by buying Scott Safety.
Scott is one of the world’s leading manufacturers of self-contained breathing apparatus systems, gas and flame detection instruments and other safety devices. Its products are largely used by firefighters, military and rescue teams who need reliable protection from environmental, dust and smoke hazards.