Manufacturing giant 3M has teamed up with investment firm Bain Capital to acquire Madison Fire & Rescue in a $1.95 billion deal. The partnership will create a new fire safety joint venture, with the transaction expected to close in late 2026.
Manufacturing giant 3M announced Thursday it will partner with investment firm Bain Capital to acquire Madison Fire & Rescue from Madison Industries in a deal valued at $1.95 billion.
The acquisition will establish a new joint venture focused on fire and safety equipment, with 3M holding a majority 50.1% stake while Bain Capital will control the remaining 49.9% ownership.
As part of the agreement, 3M plans to merge its Scott Safety division into the newly formed venture and will receive $700 million in cash when the transaction finalizes.
Company officials expect the acquisition to reach completion during the latter half of 2026.
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