Acquisition Expands 3M’s Presence in Personal Safety Industry
英石。保罗，明尼苏达州.- 3M (NYSE: MMM) today announced that it has entered into a definitive agreement to acquire Scott Safety from Johnson Controls for a total enterprise value of $2.0 billion. Scott Safety is a premier manufacturer of innovative products, including self-contained breathing apparatus (SCBA) systems, gas and flame detection instruments, and other safety devices that complement 3M’s personal safety portfolio.
3M主席，总裁兼首席执行官Inge G. Thulin说：“人身安全是3M投资组合中的核心增长业务。”“此次收购利用了我们在技术，制造，全球能力和品牌方面的基本优势，并以我们的安全和图形业务中的最新投资组合行动为基础，以将其定位为长期成功。”
Scott Safety’s products help protect firefighters, industrial workers, police, military, homeland security forces, and rescue teams around the world from environmental hazards. The business had annual revenues in 2016 of approximately $570 million.
“斯科特安全是安全行业的公认领导者，拥有强大的产品，品牌和一支由敬业员工组成的才华横溢的团队，” 300万安全和图形业务集团执行副总裁弗兰克·利特尔补充说。“将3M的产品，品牌和个人保护设备中的产品，品牌和全球能力结合在一起，将提供更广泛的安全产品和解决方案，从而增强我们与全球客户的相关性。”
3M’s Personal Safety Division provides respiratory, hearing, and fall protection solutions that help improve the safety and health of workers. The business also supplies products and solutions in other safety categories such as reflective materials for high-visibility apparel, protective clothing and head, eye, and face protection.
On a GAAP reported basis, 3M estimates the acquisition to be $0.10 dilutive to earnings in the first 12 months following completion of the transaction. Excluding purchase accounting adjustments and anticipated one-time expenses related to the transaction and integration, 3M estimates the acquisition to be $0.10 accretive to earnings over the same period.
The effective enterprise value multiple is approximately 11 times estimated annual adjusted EBITDA for the first 12 months following completion of the transaction, including expected run rate synergies.
The transaction is expected to close in the second half of 2017, subject to customary closing conditions, regulatory approvals, and information or consultation requirements with relevant works councils. 3M will finance the transaction through a combination of cash and debt.
Scott Safety employs approximately 1,500 people worldwide and is headquartered in Monroe, N.C. Citi and Goldman, Sachs & Co. acted as financial advisors to 3M and Cleary Gottlieb Steen & Hamilton LLP acted as legal counsel to 3M.
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