3M announced today that it has entered into a definitive agreement to acquire Madison Fire & Rescue, in partnership with Bain Capital, for $1.95 billion.
3M and Bain Capital will establish a new joint venture in which 3M will contribute Scott Safety, receive $700M of cash proceeds upon closing and own 50.1% of the new company with Bain Capital owning 49.9%.
The deal leverages 3M’s deep expertise and proven track record in the safety industry, combined with Bain Capital’s ability to integrate businesses, accelerate growth, and generate synergies.
3M will own 50.1% of the new company and Bain Capital the remaining 49.9%, the company said on Thursday.
William Brown, Chairman and CEO of 3M, told investors, “This strategic transaction broadens 3M’s safety portfolio, one of our priority verticals, by expanding our market reach and building scale for future growth. It positions us to enhance margins and generate strong free cash flow, and enables continued investment in innovations that create value for customers and shareholders.”
The transaction is expected to close in the second half of 2026.
By CEO NA Editorial Staff
