Global manufacturer of safety equipment MSA Safety Incorporated has acquired UK-based Bristol Uniforms (Bristol) as part of an all-cash transaction worth approximately US$60mn
This acquisition strengthens MSA’s position as a leading PPE products manufacturers for firefighters, while giving it the opportunity to expand its business in the UK and key European markets.
Headquartered in Bristol, UK, Bristol Uniforms is a specialist in the innovation and supply of protective clothing to the fire and rescue industry, with annual sales of approximately US$40mn.
“Helping keep firefighters safe has been a long-standing part of MSA’s mission,” said Nish Vartanian, president and CEO of MSA. “The Bristol acquisition advances this mission as well as our growth strategy to protect firefighters from head to toe with the best in safety technology,” he said.
Ken Krause, senior vice president and chief financial officer of MSA, said, “Fire departments are a strategic market for us, they have performed well through a wide range of economic cycles, including the COVID-19 pandemic.
“Placing Bristol under the MSA umbrella builds on our 2017 acquisition of the US leader in firefighting equipment Globe, while adding another defensive element to our portfolio and giving us the opportunity to expand the potential market for MSA in the international segment. With MSA’s global reach and the strong Bristol brand value, we are confident in our ability to reach key geographic markets and make the Bristol brand even more successful.”
Krause noted that Bristol is expected to reduce MSA’s cost of capital by year three. Excluding acquisition-related amortisation, the company expects an increase in adjusted earnings of US$0.03 to US$0.05 per share in the first twelve months following the purchase.
Bristol Uniforms is also a leading manufacturer of flame retardant, waterproof workwear and other protective clothing for the utility industry. Marketed under the Bell Apparel brand, this line complements MSA’s wide range of existing offerings for the global utility market.
MSA’s brands of fire service equipment, which include Gallet fire helmets, the M1 and G1 line of self-contained breathing apparatus, Cairns helmets, Globe Manufacturing and now Bristol Uniforms, represent more than 460 years of service combined innovation in the fire service sector, with a common mission: the protection of the health and safety of firefighters.