Safety equipment company MSA Safety Incorporated is set to acquire leak detection company, Bacharach, in a deal worth $US337 million.
Founded in 1909 and headquartered in New Kensington, Pennsylvania, Bacharach is a major supplier of gas detection technologies for the heating, ventilation, air conditioning and refrigeration markets.
The company employs 200 people across four locations in the US, Canada and Ireland and has an annual revenue of approximately $70m million.
MSA is also based in the greater Pittsburgh area and was founded in 1914. It provides safety equipment including gas monitoring and detection instruments, filter-type respirators, gas masks, and firefighter and military protection products. MSA is best known in the refrigeration industry for its Chillgard range of refrigerant leak detectors.
MSA chair, president and CEO, Nish Vartanian, said the acquisition accelerates the company’s long-term growth strategy.
“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,” he said.
MSA senior vice president and chief financial officer Ken Krause, who will oversee the Bacharach integration process, said Bacharach’s complementary technology and manufacturing processes also provide an opportunity to enhance productivity across a number of areas.
Bacharach CEO, Matthew Toone, said 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,” he said.
The transaction is expected to close in early July.