3M to Create a Leading Fire and Safety Business; Acquires Madison Fire & Rescue and Combines with Scott Safety

3M and Bain will buy fire and rescue firm for nearly $2B in joint venture

3M’s Scott Safety business will become part of the new Madison Fire & Rescue venture.

3M, Bain buying Madison Fire & Rescue for $1.95B, will combine with Scott Safety

The joint venture will combine Madison Fire & Safety with 3M's Scott Safety unit. 3M will receive $700 million in cash and control 50.1% of the new company.

3M to create a leading fire and safety business; acquires Madison Fire & Rescue and combines with Scott Safety

/PRNewswire/ -- 3M (NYSE: MMM) announced today that it has entered into a definitive agreement to acquire Madison Fire & Rescue, in partnership with Bain...

3M and Bain Capital to acquire Madison Fire & Rescue in $1.95bn deal

3M has partnered with Bain Capital to acquire Madison Fire & Rescue for $1.95bn. As part of the transaction, 3M will contribute its Scott Safety breathing apparatus division to a newly formed fire and safety platform and receive $700m in cash upon completion, according to a report by Bloomberg. The company will retain a 50.1% controlling stake, while Bain Capital will hold the remaining interest. The acquisition will see the partners purchase Ma…

3M, Bain Buy Madison Fire & Rescue in $1.95B Deal

3M and Bain Capital agreed to buy Madison Fire & Rescue for about $1.95B, combining it with 3M’s Scott Safety and giving 3M a 50.1% stake.