3M and Bain Capital Form Joint Venture to Acquire Madison Fire & Rescue
March 19, 2026
3M entered into a definitive agreement with Bain Capital to form a new joint venture to acquire Madison Fire & Rescue for $1.95 billion. Under the deal, 3M will contribute its Scott Safety business and receive $700 million in cash at closing, with 3M owning 50.1% and Bain Capital owning 49.9%. The transaction is expected to close in the second half of 2026, subject to customary conditions.
- Buyers
- 3M, Bain Capital
- Targets
- Madison Fire & Rescue, Madison Fire 60 Rescue, Madison Fire 6 Rescue, Scott Safety
- Sellers
- Madison Industries
- Platforms
- 3M
- Industry
- Industrial Services
- Location
- Minnesota, United States
- Transaction Type
- Buyout
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