3M Completes Acquisition of Capital Safety
Facebook Facebook Twitter Twitter LinkedIn LinkedIn 3M<%2Fa>,%20St.%20Paul,%20Minn.,%20announced%20that%20it%20has%20completed%20its%20acquisition%20of Capital%20Safety<%2Fa>,%20Bloomington,%20Minn.,%20from%20KKR%20and%20Co.,%20for%20a%20total%20enterprise%20value%20of%20$2.5%20billion,%20including%20the%20assumption%20of%20approximately%20$700%20million%20of%20debt,%20net%20of%20cash%20acquired. %0D%0A%0D%0Ahttps%3A%2F%2Fmagazine.promomarketing.com%2Farticle%2F3m-completes-acquisition-capital-safety%2F" target="_blank" class="email" data-post-id="19899" type="icon_link"> Email Email 0 Comments Comments
3M, St. Paul, Minn., announced that it has completed its acquisition of Capital Safety, Bloomington, Minn., from KKR and Co., for a total enterprise value of $2.5 billion, including the assumption of approximately $700 million of debt, net of cash acquired. Capital Safety is a global provider of fall protection equipment, one of the fastest-growing safety categories within the global personal protective equipment industry.
3M’s personal safety business provides respiratory and hearing protection solutions that help improve the safety and security of workers. The company also supplies products and solutions in other safety categories, such as reflective materials for high-visibility apparel, protective clothing and eyewear.
Capital Safety’s products and solutions include harnesses, lanyards, self-retracting lifelines and engineered systems. The company has annual global sales of approximately $430 million.
The addition of Capital Safety bolsters 3M’s personal safety platform to meet the growing demand for personal protective equipment driven by increasing regulatory focus on worker safety across both developed and developing countries. 3M’s global capability combined with Capital Safety’s products will enable 3M to bring a broader array of personal protective equipment products and solutions to more customers worldwide.
On a GAAP reported basis, 3M estimates the Capital Safety acquisition to be $0.04 per share dilutive to 2015 earnings, all of which will be incurred in the third quarter.
3M’s 2015 earnings guidance of $7.80 to $8, announced on July 23, excluded the estimated impact from its pending acquisitions of Capital Safety and Polypore Separations Media business at that time. The acquisition of the Polypore Separations Media business is still pending completion.
For more information on 3M, visit www.3M.com.