3M completes acquisition of Scott Safety
3M on October 4 announced that it has completed its acquisition of Scott Safety from Johnson Controls for a total enterprise value of $2.0 billion. Scott Safety is a premier manufacturer of innovative products, including self-contained breathing apparatus (SCBA) systems, gas and flame detection instruments, and other safety devices that complement 3M’s personal safety portfolio.
3M’s Personal Safety Division provides respiratory, hearing, and fall protection solutions that help improve the safety and health of workers. The business also supplies products and solutions in other safety categories such as head, eye, and face protection, reflective materials for high-visibility apparel and protective clothing.
Scott Safety’s products help protect firefighters, industrial workers, police, military, homeland security forces, and rescue teams around the world from environmental hazards. The business had revenues of approximately $575 million for the 12 months ended Sept. 30, 2017.
The addition of Scott Safety’s well-regarded safety products, combined with 3M’s products, brands and global capabilities in personal protective equipment will provide a broader array of safety products and solutions, enhancing 3M’s relevance to customers worldwide, the company said in a prepared statement.
3M estimates the acquisition to be $0.08 dilutive to earnings in the fourth quarter.