Industrial Scientific dates back to 1976 where it was originally set up as the Industrial Safety Division of the National Mine Service Company (NMS). The company was sold in 1985 and started operation as a private company. Over the last 32-years, Industrial Scientific has primarily been owned by the McElhattan family, aside from going public for a brief time in the 1990s.
At the end of July, the gas detection expert announced it had signed a definitive agreement to join the Fortive family of industrial technology companies as a member of its field solutions platform.
Fortive is a public company that was a part of Danaher Corporation until July 2016 when its spun off to become its own company. With 2016 revenues of $6.2bn, Fortive is a diversified industrial growth company with essential technology businesses that drive innovation in field instrumentation, transportation, sensing, product realisation, automation, and franchise distribution.
The new ownership will provide Industrial Scientific, whose mission is preserving human life on, above and below the earth, with additional capacity to accelerate the company’s vision of eliminating death on the job by the year 2050.
gasworld spoke to Industrial Scientific’s Corporate Communications Specialist, Liz Keblusek, to find out more about how the merger came about and the company’s vision.
As Industrial Scientific has continued to grow, Keblusek explained it has now reached a point where it needs more capital and Mergers & Acquisitions (M&A) experience to accelerate toward its vision of eliminating death on the job by the year 2050.
She said, “Becoming part of Fortive, a much larger company, will provide Industrial Scientific with more technological and financial support in this endeavour.”
“Providing great products and services to our customers is not enough. We are committed to arming our customers with data to give them insights and control over all risks in their operations. We have pioneered this concept in gas detectors with iNet and our sister company, Predictive Solutions, is doing the same with safety observations and inspections.”
Keblusek continued, “This information helps customers to see safety issues before they occur and gives them the opportunity to make changes and save lives. When customers have data about safety equipment and human behaviour, they are better equipped to eliminate death in their workplaces.”
Although the company is known for its gas detection products, another opportunity that will come, as a result of the merger, is it will be looking to branch out further in its technical applications.
Looking to the future, Keblusek said in the near-term, Industrial Scientific is looking to expand its capabilities in wireless gas detection to serve a broader set of customers and applications.