3M has made a major deal of $2.5 billion to acquire Capital Safety. Capital Safety has become one of the most prominent global leaders in fall protection and has been owned by KKR since 2011. This is a strategic advantage for 3M as the market for protective equipment continues to flourish. This transaction marks the largest acquisition executed by 3M and will make safety an even bigger factor in the success of their company.
Both sides will see a benefit from the deal. Capital Safety is enthusiastic about the strategic fit that creates a platform for future growth. Meanwhile, 3M is adding to a business that already makes $32 billion in sales and have 90,000 employees. They will likely see an addition of 12 cents per share in their earnings as a result.
“Personal safety is a large and strategically important growth business in the 3M portfolio,” said Inge Thulin, 3M chairman, president and CEO. “The acquisition of Capital Safety bolsters our personal safety platform and will build on our fundamental strengths in technology, manufacturing, global capabilities and brand.”
3M has been involved with safety solutions for a while now. They were supplying respiratory and hearing protection equipment for workers. Working with Capital Safety will allow them to broaden their safety business into other areas such as protective clothing and eyewear. They are also acquiring a company that has demonstrated consistent growth over the past 4 years.
According to Frank Little, Executive VP for 3M Safety and Graphics Business Group, “3M’s brand in personal protective equipment, combined with our global capability, will provide a broader array of products and solutions to both Capital Safety’s and 3M’s customers.”
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