3M and Bain Capital to Buy Madison Fire for $1.95 Billion
3M and Bain Capital will buy Madison Fire & Rescue for $1.95 billion. 3M will receive $700 million in cash for its Scott Safety unit in the new venture.
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3M Company and Bain Capital Specialty Finance, Inc. have entered into a definitive agreement to acquire Madison Fire & Rescue from the privately held Madison Industries for $1.95 billion. The industrial giant announced on Thursday that the acquisition will lead to the formation of a new fire and safety joint venture.
