MSA Security acquires British fireplace service swap producer Bristol Uniforms | information
PITTSBURGH, January 25, 2021 / PRNewswire / – Global safety equipment maker MSA Safety Incorporated (NYSE: MSA) announced today that it has acquired UK-based Bristol Uniforms (“Bristol“) for a cash payment of approx. $ 60 million. The acquisition strengthens MSA’s position as the world’s leading supplier of PPE products for the fire service, while offering the opportunity to expand its business in the UK and key European markets.
Headquarters in Bristol, UKBristol Uniforms is a leading innovator and supplier of protective clothing for the fire and rescue service sector with annual sales of approx. $ 40 million. The company has built a reputation for providing high quality point equipment that combines innovative design with advanced materials. Bristol Uniforms employs nearly 200 people in four UK locations.
“Ensuring the safety of firefighters is a longstanding element of the MSA mission,” he said Nish Vartanian, MSA Chairman, President and CEO. “The acquisition of Bristol is driving this mission as well as our growth strategy of protecting firefighters from head to toe with the best security technology, “he said.
Mr. Vartanian said the transaction builds on the success MSA has had in improving the overall performance of its international business. “Our entire international team and especially our employees in Europe, have done an excellent job over the past three years building a more agile, efficient, and growth-oriented organization. Today’s acquisition reflects the confidence we have in our team’s ability to integrate quickly Bristol in the MSA portfolio. It also recognizes the advances our team is making Europe has been implementing MSA’s overall vision for growth, “he said.
MSA Senior Vice President and Chief Financial Officer Ken KrauseThe company’s director of corporate development said the acquisition comes at an exciting time for MSA and the fire services business. “Fire services is a strategic market for us that has performed well in a variety of business cycles, including the COVID-19 pandemic,” he said. “Bringing Bristol under the MSA umbrella builds on our acquisition of US turnout operator Globe in 2017, adds another defensive element to our portfolio and gives us the opportunity to expand MSA’s addressable market in the international segment. With the global reach of MSA and Boobs With our strong brand equity, we are confident of reaching key geographic markets and making the Bristol brand even more successful. “
Mr. Krause added that the acquisition matches the company’s disciplined approach to capital deployment. He noticed that too Bristol is expected to weigh on MSA’s cost of capital through year three. Without acquisition-related depreciation, the company plans an adjusted increase in earnings of $ 0.03– –$ 0.05 per share for the first twelve months of ownership.
Bristol Uniforms is also a leading manufacturer of flame retardant, waterproof and other protective workwear for the utility industry. This line is marketed under the Bell Apparel brand and complements MSA’s existing wide range of products for the global supply market.
Bristol Deputy Chairman Ian Mitchell commented: “We see today’s acquisition as a great addition to our two companies. From a product synergy perspective, Bristol Uniforms will align with MSA’s existing portfolio, expanding our reach in the global turnout equipment market and offering us new opportunities to serve our customers.” serve.” Base with a broader range of head-to-toe fire protection. “Mr. Mitchell added,” Cultural, MSA and Bristol are very well matched and we love today’s news as we see this acquisition as a great addition for both of them Bristol and for MSA. “
MSA’s fire fighting equipment brands, which include Gallet Firefighter Helmets, the M1 and G1 self-contained breathing apparatus, Cairns Helmets, Globe Manufacturing and now Bristol Uniforms, have represented more than 460 years of innovation in the fire fighting industry. with a common mission: protecting the health and safety of firefighters.
Founded in 1914, MSA Safety Incorporated is a world leader in the design, manufacture and supply of safety products that protect people and facility infrastructures. Many MSA products incorporate a combination of electronics, mechanical systems, and advanced materials to protect users from dangerous or life-threatening situations. The company’s comprehensive line of products is used by workers around the world in a variety of markets including the oil, gas and petrochemical, fire, construction, mining and military industries. MSA’s core products include self-contained breathing apparatus, stationary gas and flame detection systems, portable gas detection instruments, industrial head protection products, fire helmets and protective clothing, and fall protection devices. With 2019 revenues of $ 1.4 billionMSA employs around 5,000 people worldwide. The company is headquartered north of Pittsburgh in the Cranberry Township, Pa.and has manufacturing facilities in The United States, Europe, Asia and Latin America. With more than 40 international locations, MSA generates around half of its sales outside of North America. For more information, see the MSA website at www.MSASafety.com.
About Bristol Uniforms
Bristol Uniforms Ltd is a leading designer and manufacturer of protective clothing for emergency medical services in the UK and around the world. Founded in 1801 as a clothing manufacturer BristolThe company has been a pioneer in the development of specialized fire-fighting PPE for more than 60 years. Today Bristol Uniforms employs around 200 people. The garments are sold through a network of around 70 experienced dealers.
Cautionary Note Regarding Forward-Looking Statements:
Except for historical information, certain topics discussed in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, all projections and expected levels of future performance. Benefits and synergies of the transaction, future opportunities for the combined company and other statements about MSAs and Bristol future expectations, beliefs, goals, plans or perspectives of management. Forward-looking statements involve risks, uncertainties and other factors that could cause our actual results to differ materially from those discussed here. Any number of factors could cause actual results to differ materially from projections or forward-looking statements, including MSA’s ability to integrate successfully Boobs Operations and employees, unexpected costs, changes or expenses resulting from the transaction, the risk that the transaction will disrupt the current plans and operations of MSA and MSA Bristol, the ability to realize expected synergies, the ability of MSA to grow successfully Boobs Business, possible adverse reactions or changes in business relationships resulting from the announcement of the transaction, key employee retention, global economic conditions, government spending patterns, competitive pressures, product liability claims, success of new product launches and currency exchange, interest rate fluctuations and the Risks of doing business abroad. For a complete listing of these risks, uncertainties, and other factors, please refer to our filings with the US Securities and Exchange Commission (“SEC”) from time to time, including our latest Form 10-K, filed on February 20, 2020. It is strongly recommended that you review all such submissions to further discuss such risks and uncertainties. MSA’s SEC filings are available at www.sec.gov and on its own Investor Relations website at http://investors.MSAsafety.com. MSA undertakes no obligation to publicly update the forward-looking statements contained herein, except as required by law.