Scott Safety, a Tyco business, announced today that it has completed the acquisition of Industrial Safety Technologies (IST), a global leader in gas and flame detection, from Battery Ventures for $329.5 million in cash.
(Photo: Scott Safety senior leadership executives and Industrial Safety Technologies (IST) employees gather in Oslo, Norway, for a "Welcome Day" event following the acquisition announcement.)
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.
“This is a very exciting time in Scott Safety’s history,” said Bob Vigdor, director of Sales, Flame and Gas Detection, Scott Safety. “From our first acquisition of Davis Instruments over 30 years ago, to today’s acquisition of IST, gas detection has been an important piece of our safety portfolio. With today’s acquisition of IST, we are reaffirming our commitment to being a leader in the gas detection space.”
IST holds a technology leadership position in the gas and flame detection industry and is strongly committed to innovating in industrial safety solutions. From groundbreaking wireless gas-detection technology to the first SIL3 certified triple IR flame detector, IST provides among the most advanced and reliable solutions, protecting lives and workplaces around the world. IST brings strong market presence in Europe, the Middle East, and the Gulf Coast U.S. region and will complement the Scott Safety Flame and Gas Detection business.
“I am extremely proud to be part of the gas detection industry where our focus is to provide products to enable people to work safely in environments that may not always be safe,” said Vigdor. “The high quality, technically advanced products manufactured by Detcon, Simtronics, Oldham, Gas Measurement Instruments, and DSA along with their knowledge of the industry will help us continue to provide the best products to our customers so we can protect what matters most.”
Scott Safety has a broad, global offering of premium safety products, with a portfolio that includes SCBAs, air purifying respirators, gas detection systems, compressors, PPE, and thermal imaging products. With the addition of the IST group, Scott Safety will now be able to offer customers a much broader range of flame and gas detection products, with some of the most advanced technologies in the market.
“The acquisition of IST brings together six companies with strong brand recognition and unmatched channel strength across multiple markets. In addition, IST has an extensive network of experienced and talented employees who will help to shape the future of the global flame and gas detection industry,” said Sean Magee, General Manager, Flame and Gas Detection, Scott Safety. “We look forward to working with the IST family to develop our collective strategy for driving growth.”
About Scott Safety
Scott Safety, a Tyco business, is a premier manufacturer of innovative respiratory and personal protective equipment and safety devices for firefighters, industrial workers, police squads, militaries, homeland security forces, and rescue teams around the world. With five global manufacturing locations, Scott products protect thousands of individuals each day from environmental hazards including smoke, toxic fumes, combustible gases, falling objects, and contaminants, the Scott Safety product line includes self-contained breathing apparatus, supplied air and air-purifying respirators, PPE, gas detection instruments, thermal imaging cameras, and firefighter locators. For more information, visit www.scottsafety.com.
About Industrial Safety Technologies, LLC
Industrial Safety Technologies (IST) is comprised of five brands strongly committed to providing innovative safety solutions through its group of dedicated and experienced flame, gas, and explosives and narcotics detection companies. Detcon, Oldham, Simtronics, and Gas Measurement Instruments (GMI) offer the most complete portfolio of fixed, portable, and wireless gas and flame detection solutions in the world, and DSA Detection specializes in the design, manufacture and distribution of consumables for leading brands of explosives and narcotics trace detectors.
About Battery Ventures
Battery Ventures invests in cutting-edge, category-defining businesses in markets including software, web infrastructure, e-commerce, digital media and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to buyout and invests globally from offices in Boston, Silicon Valley and Israel. Follow the firm on Twitter @BatteryVentures or visit its website at www.battery.com for a full list of Battery's portfolio companies.