Scott Safety acquires Industrial Safety Technologies, LLC (IST) from Battery Ventures
Scott Safety, a Tyco business, announced today that it has acquired Industrial Safety Technologies (IST), a global leader in gas and flame detection from Battery Ventures. The Tyco purchase price was $329.5 million in cash. The combination of IST and Scott Safety makes Tyco one of the largest global designers and manufacturers of gas and flame detection products and reinforces Tyco’s commitment to growing its gas and flame detection business.
“IST is excited to be joining the Scott Safety family,” said Adam Markin, CEO of Industrial Safety Technologies. “We look forward to working with their team to build a world-leading, safety- products business. There will be great opportunities for our employees and customers over the coming years.”