3M is partnering with Bain Capital to acquire Madison Fire & Rescue from Madison Industries for $1.95 billion. The transaction will establish a new joint venture focused on fire and safety solutions.
3M will contribute its Scott Safety business to the venture. The company will hold a majority 50.1% stake in the new entity. Bain Capital will own the remaining 49.9% interest.
3M will receive approximately $700 million in cash upon the deal's closing. The combination integrates Scott Safety’s breathing apparatus with Madison’s rescue technology and fire-suppression equipment.
The companies expect to finalize the transaction in the second half of 2026.