Written on: May 25, 2021 by ICM
Global safety equipment manufacturer MSA Safety Inc. announced it will acquire Bacharach, Inc. and its affiliated companies from FFL Partners, a San Francisco, CA-based private equity firm, in a transaction valued at $337 million.
Headquartered near Pittsburgh, PA, Bacharach manufactures gas detection technologies used in the heating, ventilation, air conditioning and refrigeration (HVAC-R) markets with annual revenue of approximately $70 million. The company employs 200 people across four locations in the U.S., Canada and Ireland.
The acquisition is expected to boost MSA’s gas detection portfolio and will leverage MSA’s product and manufacturing expertise into new markets.
“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 Nish Vartanian, MSA Chairman, President & CEO. “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.”
Vartanian added that MSA’s gas detection manufacturing Center of Excellence and Bacharach’s headquarters are both located in the greater Pittsburgh area.
“The acquisition of Bacharach is an exciting opportunity to add further resilience in our gas detection portfolio,” said MSA Senior VP & CFO Ken Krause. “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.
“Growth continues to be the top priority in our capital allocation strategy,” added Krause.
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 detection brands of MSA, which include General Monitors, Senscient, Sierra Monitor, and now Bacharach, represent more than 325 combined years of gas detection innovation, with one common mission: protecting the health and safety of people and facility infrastructures around the world.
The transaction is expected to close in early July. For more info, visit MSAsafety.com.