Global safety equipment manufacturer MSA Safety has entered into a definite agreement to acquire gas detection technologies company Bacharach.
Announcing the news on Monday (24th May), MSA said the transaction is valued at $337m.
Founded in 1909, Bacharach employees 200 people across four locations in the US, Canada and Ireland. Headquartered near Pittsburgh, the company manufacturers gas detection technologies used in heating, ventilation, air condition and refrigeration markets.
Commenting on the transaction, Nish Vartanian, MSA Chairman, President and CEO, said, “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.”
“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.”
Further detailing the process, MSA said that Ken Krause, the company’s Senior Vice-President and Chief Financial Officer, will serve as the Executive Sponsor of the acquisition and will have oversight of the Bacharach integration process.
Sharing his thoughts on the purchase, Krause, 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.”
Mathew Toone, CEO of Bacharach, added, “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.”