ST. PAUL, Minn. — 3M is buying safety equipment maker Capital Safety from KKR for about $1.8 billion as demand for protective gear grows.
The transaction also includes approximately $700 million in debt.
3M Co., which makes Post-it notes and other products, said Tuesday that increasing demand for worker safety in developing countries is driving sales of equipment.
Capital Safety’s equipment is sold under brands including DBI-SALA and PROTECTA.
“Capital Safety is a tremendous business with a strong reputation in the safety industry and a talented team of dedicated employees,” added Frank Little, executive vice president, 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.”
The deal is expected to close in the third quarter.
3M is based in St. Paul, Minnesota. Capital Safety is based just outside of Minneapolis, in Bloomington.
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