MSA Safety Incorporated [NYSE: MSA] revealed that the company has purchased Bristol Unifrom the United Kingdom-based Protective apparel manufacturer and designer. MSA will pay $60 million all in cash for this acquisition. This purchase will aid MSA in strengthening its position as a leader in fire service PPE products globally. Moreover, this acquisition also provides MSA an opportunity to expand its footprint in the Uk and some important European markets.
Bristol uniform has nearly a revenue of $40 million annually and it has over 200 employees across the United Kingdom. This acquisition aligns with the MSA methodology for capital deployment. “At MSA one of the important element was to help keep the firefighters safe. This transaction accelerates our Mission along with the company’s growth strategy to protect firefighters. Moreover, this acquisition mirrors our confidence we have in our talented team to swiftly integrate Bristol into MSA Portfolio” Said Nish Vartanian CEO, president, and chairman at MSA.
Ken Krause SVP and CFO of MSA said “ This transaction came at an exciting time for our company and its fire business. Adding Bristol to MSA’s portfolio provides the company the opportunity to expand its footprint in the international market. With the company’s global reach and bristols strong brand equity, we are convinced to attain important geographical markets and make Bristol even more profitable”.
Ian Mitchell Deputy Chairman of Bristol said “ Today’s acquisition is a great fit for both the companies in our point of view. The company falls in line with the existing portfolio of MSA products. Moreover, with this transaction, the company’s reach in the global markets will be increased. Additionally, the company will be provided with better opportunities to serve their customer base with a wider range of firefighter protection”.