Global safety equipment manufacturer MSA Safety Incorporated has completed its acquisition of Bacharach for $337m.
The competition follows the initial announcement in May, when the duo entered into a definite agreement.
On the transaction, Nish Vartanian, MSA Chairman, President and CEO, said, “We’re very excited to officially welcome Bacharach to the MSA family.”
“Many industries today are placing significant focus on monitoring and managing the usage of refrigerants for safety, environmental and efficiency purposes.”
“With a leading gas detection portfolio, Bacharach provides MSA with access to attractive end markets, while aligning well with our mission and our product and manufacturing expertise.”
Over the past several weeks, Vartanian said MSA and Bacharach have worked collectively to establish robust integration plans. “At the centre of this process is a highly skilled, cross-functional integration team comprised of leaders from both organisations,” Vartanian added.
“As we prepared for the closing of this transaction, the team made great progress in developing a blueprint that will ensure integration success in the months ahead.”
In conjunction with the closing, MSA announced that Aaron Tufts will serve as the Integration Leader for the acquisition. Tufts most recently served as MSA’s General Manager of Fixed Gas and Flame Detection (FGFD) products.
As announced previously, MSA Senior Vice-President and Chief Financial Officer, Ken Krause, will serve as the Executive Sponsor of the acquisition. In the role, Krause will have oversight of the Bacharach integration process.
Commenting on Tufts appointment, Krause, said, “Aaron brings to this assignment a deep understanding of the fixed gas and flame detection market, as well as a strong track record of developing successful relationships and growth strategies in key markets.”
“In addition, being with a company that was acquired by MSA makes him an exceptional choice to lead our day-to-day integration efforts.”