HomeMy WebLinkAbout2015 06-23 3M buying Capiral Safety equipment maker PIONEER PRESS 3M buying Capital Safety equipment maker
Updated:0623/2015 11:04:23 PM CDT TwinCities.com
,�, Maplewood-based 3M Co. has agreed to acquire Capital
' Safety for$2.5 billion.
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��;��?k � The all-cash deal is expected to close during the third
��. ' _.- �� quarter of 2015.
" �t� ;��� � �,� � ���, ( The Bloomington-based personal protection equipment
'�;� `3 � manufacturer employs about 1,500 and operates 27
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"� �,���, � �, � locations worldwide.
� ,�,� � "Personal safety is a large and strategically important
3M Y,eadquaiters Guilding in St. Paul(Karert Eteiei'H�''N,'GeCty
�,,,���s� g r o w t h b u s i n e s s i n t h e 3 M p o rt f o l i o," 3 M C E O I n g e
Thulin said in a news release. "The acquisition of Capital
Safety bolsters our personal safety platform and will build on our fundamental strengths in technology,
manufacturing, global capabilities and brand."
Capital specializes in fall protection equipment, including harnesses, lanyards and self-retracting lifelines.
The company recorded $430 million in sales during the fiscal year that ended on March 31.
Nick Woltman can be reached at 651-228-5189. Follow him on Twitter at finritter.com/@nickwoltman.