3M Acquires Madison Fire & Rescue for $1.95B

ST. PAUL, Minn. — 3M has entered into a definitive agreement with Bain Capital to acquire Madison Fire & Rescue from Madison Industries for $1.95 billion, forming a new joint venture focused on fire and safety solutions. The deal combines 3M’s Scott Safety business with Madison Fire & Rescue’s portfolio of rescue technology and fire suppression products. According to 3M, Dow Jones Newswires, Reuters, Benzinga, Kirkland & Ellis, and Paul Hastings, the transaction is expected to close in the second half of 2026. Each of the bullet points immediately below have been confirmed by at least four of the six respected sources we curated on this story.

Core Facts

• The transaction values Madison Fire & Rescue at $1.95 billion, with 3M and Bain Capital acquiring the company from Madison Industries.
• Under the joint venture structure, 3M will contribute its Scott Safety business, receive $700 million in cash proceeds upon closing, and retain a 50.1% ownership stake. Bain Capital will own the remaining 49.9%.
• The new combined entity will integrate Scott Safety’s Self-Contained Breathing Apparatus solutions with Madison Fire & Rescue’s portfolio of rescue technology and fire suppression products.
• Madison Fire & Rescue offers products under multiple established brands including Holmatro, Amkus, Task Force Tips, Fire Fighting Systems, and Waterax.
• The deal is anticipated to close in the second half of 2026, subject to customary closing conditions.
• William Brown, Chairman and CEO of 3M, stated that the transaction broadens the company’s safety portfolio and will expand market reach while building scale for future growth.

Additional Details Reported

Bain Capital, the private-equity firm co-investing in the venture, manages approximately $215 billion in assets across a wide range of sectors. The combination is expected to enhance margins and generate strong free cash flow for 3M, enabling continued investment in safety innovations.

3M has been actively streamlining its business operations in recent years, including the 2024 spinoff of its healthcare division into a separate company called Solventum. The company identified safety as one of its priority verticals, making this acquisition strategically significant for its portfolio focus.

Legal representation for the transaction included Kirkland & Ellis advising Bain Capital and Paul Hastings advising Madison Fire & Rescue on the definitive agreement.

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