3M Acquires Madison Fire & Rescue in Partnership with Bain Capital; Combines with Scott Safety
March 19, 2026
3M entered into a definitive agreement to acquire Madison Fire & Rescue in partnership with Bain Capital, valuing the acquisition at $1.95 billion. 3M will contribute its Scott Safety business to a new joint venture, receiving $700 million of cash at closing and owning 50.1% of the new entity, with Bain Capital owning 49.9%, as the combined business broadens 3M’s fire and safety portfolio. The transaction is expected to close in the second half of 2026, subject to customary conditions.
- Buyers
- 3M, Bain Capital
- Targets
- Madison Fire & Rescue
- Sellers
- Madison Industries
- Platforms
- 3M
- Industry
- Industrial Services
- Location
- United States
- Transaction Type
- Buyout
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