3M, Bain Capital Partner for $1.95B Fire Safety Company Purchase

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Manufacturing giant 3M is partnering with investment firm Bain Capital to acquire Madison Fire & Rescue from Madison Industries in a $1.95 billion deal. This acquisition will form a new joint venture focused on fire and safety equipment, with 3M holding a 50.1% stake and Bain Capital 49.9%. 3M will merge its Scott Safety division into the new venture and receive $700 million in cash upon the transaction’s expected closure in late 2026.

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