This article is from: srnnews.com
March 19 (Reuters) – 3M and Bain Capital will buy Madison Fire & Rescue from privately held Madison Industries for $1.95 billion, the industrial giant said on Thursday.
Under the deal, the buyers will form a new fire and safety joint venture in which 3M will own 50.1% and Bain Capital the remaining 49.9%.
3M will also contribute its Scott Safety business to the venture, for which it will receive $700 million in cash proceeds upon closing.
The deal is expected to be completed in the second half of 2026.
(Reporting by Aishwarya Jain in Bengaluru; Editing by Jonathan Ananda)
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