United States. Global safety equipment manufacturer MSA Safety Incorporated announced the signing of a definitive agreement to acquire Bacharach, Inc. and its affiliated companies (Bacharach) from FFL Partners, a private equity firm based in San Francisco, California, in a transaction valued at $337 million.
Headquartered near Pittsburgh in New Kensington, Pennsylvania, Bacharach is a gas detection technologies company used in the HVAC-R markets, with annual revenues of approximately $70 million. The company employs 200 people in four locations in the U.S., Canada and Ireland.
"The acquisition of Bacharach accelerates our long-term growth strategy to expand our addressable market into applications that align with MSA's core mission and technologies," said Nish Vartanian, president and chief executive officer of MSA. "With a leading sensing portfolio and strong brand, Bacharach provides access to attractive end markets while aligning exceptionally well with MSA's manufacturing and product expertise." Mr. Vartanian added that MSA's Gas Detection Manufacturing Center of Excellence and Bacharach headquarters are located in the Pittsburgh metropolitan area.
MSA Senior Vice President and Chief Financial Officer Ken Krause will act as executive sponsor of the acquisition. In this capacity, Mr. Krause will oversee Bacharach's integration process and work to ensure that acquisition synergies are achieved.
Matthew Toone, CEO of Bacharach, commented: "MSA's global reach will play an important role in driving Bacharach's future growth. With complementary technology, similar missions and a like-minded stance on sustainability and the environment, we see this acquisition as a great combination for both Bacharach and MSA."
MSA's sensing brands, which include General Monitors, Senscient, Sierra Monitor and now Bacharach, represent more than 325 combined years of innovation in gas detection, with a common mission: to protect the health and safety of people and facility infrastructures around the world.
