USA: Safety equipment company MSA Safety Incorporated has entered into a definitive agreement to acquire gas detection equipment manufacturer Bacharach, in a transaction valued at $337m.
Founded in 1909 and headquartered near Pittsburgh in New Kensington, Pennsylvania, Bacharach is a major supplier of gas detection technologies for the heating, ventilation, air conditioning and refrigeration markets. The company employs 200 people across four locations in the US, Canada and Ireland and has an annual revenue of approximately $70m.
MSA is also based in the greater Pittsburgh area in the suburb of Cranberry. Founded in 1914, it offers a broad range of safety equipment including gas monitoring and detection instruments, filter-type respirators, gas masks, and firefighter and military protection products. MSA is best known in the refrigeration industry for its Chillgard range of refrigerant leak detectors.
“The acquisition of Bacharach accelerates our long-term growth strategy to expand our addressable market in applications that align with MSA’s mission and core technologies,” said MSA chairman, president and CEO Nish Vartanian. “With a leading detection portfolio and strong brand, Bacharach provides access to attractive end markets while aligning exceptionally well with MSA’s product and manufacturing expertise.”
MSA senior vice president and chief financial officer Ken Krause, who will oversee the Bacharach integration process, said: “The acquisition of Bacharach is an exciting opportunity to add further resilience in our gas detection portfolio. Bacharach’s end markets align with regulatory tailwinds that support growth through various economic cycles. The company’s complementary technology and manufacturing processes also provide an opportunity to enhance productivity across a number of areas,” he said.
Matthew Toone, Bacharach CEO commented, “MSA’s global reach will play a significant role in driving future growth for Bacharach. With complementary technology, similar missions and a like-minded stance on sustainability and the environment, we see this acquisition as a great match for both Bacharach and for MSA.”
The transaction is expected to close in early July.