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3M Buys Capital Safety for $2.5B

Thursday, September 24, 2015

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3M has completed its acquisition of a global provider of fall personal protection equipment.

The Minneapolis-based company recently purchased Capital Safety from KKR for a total enterprise value of $2.5 million, according to a statement on 3M’s website. The deal included assuming $700,000 in debt.

Capital Safety’s products include harnesses, lanyards, self-retracting lifelines and engineered systems. The business has annual global sales of $430 million, according to 3M.

Capital Safety

Capital Safety’s products include harnesses, lanyards, self-retracting lifelines and engineered systems. The business has annual global sales of $430 million, according to 3M.

The acquisition adds to a lineup of personal safety products that 3M already offers. The company says those products include respiratory and hearing protection solutions; reflective materials for high-visibility apparel; protective clothing; and protective eyewear.

Growing Need

Fall protection equipment remains one of the fastest-growing safety categories within the PPE industry, 3M said. The addition of Capital Safety allows the company to meet a growing demand for PPE equipment that has been driven by a regulatory focus on worker safety in both developed and undeveloped countries.

3M estimates the Capital Safety acquisition to be worth $0.04 per share dilutive to 2015 earnings, all of which will be incurred in the third quarter, it said.

Earlier earnings guidance of $7.80 to $8 excluded the Capital Safety acquisition and the company’s pending acquisition of Polypore’s Separations Media.

   

Tagged categories: 3M; Asia Pacific; Capital Safety; EMEA (Europe, Middle East and Africa); Fall protection; Good Technical Practice; Health and safety; Hearing protection; Latin America; North America; Respiratory Protection Standard

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