3M, Bain Capital Form $1.95B JV to Fuse Scott Safety with Madison Fire & Rescue
3M will pay $1.95B in partnership with Bain Capital to acquire Madison Fire & Rescue, receiving $700M cash and forming a joint venture where 3M holds 50.1% and Bain 49.9%. The new venture combines Scott Safety’s SCBA solutions with Madison’s rescue technology portfolio to expand fire and safety offerings.
1. Transaction Details
3M and Bain Capital are acquiring Madison Fire & Rescue for $1.95B from Madison Industries. 3M contributes its Scott Safety unit, receives $700M cash and owns 50.1% of the new joint venture with Bain Capital at 49.9%.
2. Strategic Benefits
The combined business will merge Scott Safety's SCBA solutions with Madison's rescue and suppression portfolio, including Holmatro, Amkus, Task Force Tips, Fire Fighting Systems and Waterax brands. This scale is expected to broaden market reach, boost margins and drive free cash flow through operational synergies.
3. Expected Timeline and Financial Impact
The transaction is slated to close in the second half of 2026, subject to customary closing conditions. The deal structure provides immediate cash proceeds of $700M and positions the JV for continued investment in safety innovations.