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MSA Safety Acquires UK Firefighter Turnout Gear Manufacturer Bristol Uniforms.

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MANews-(C)2009-2021

US-based safety equipment manufacturer MSA Safety Inc. (NYSE: MSA) has acquired UK-based Bristol Uniforms in an all-cash transaction valued at approximately USD 60m, the company said.

MSA said the acquisition strengthens its position as a leader in fire service PPE products while providing an avenue to expand its business in the UK and key European markets.

Headquartered in Bristol, UK, Bristol Uniforms is a leading innovator and provider of protective apparel to the fire and rescue services sector, with annual revenue of approximately USD 40m.

The company has earned a reputation for providing high quality turnout gear that combines innovative designs with advanced materials.

Bristol Uniforms employs nearly 200 people across four UK locations.

Vartanian said the transaction builds on the success MSA has had in improving the overall performance of its International business segment.

MSA senior vice president and chief financial officer Ken Krause, who leads the company's corporate development activities, said that the acquisition comes at an exciting time for MSA and its fire service business.

Krause added that the acquisition aligns with the company's disciplined approach for capital deployment.

He also noted that Bristol is expected to hurdle MSA's cost of capital by year three. Excluding acquisition-related amortization, the company is planning for adjusted earnings accretion of USD 0.03-USD 0.05 per share in the first twelve months of ownership.

Bristol Uniforms is also a leading manufacturer of flame-retardant, waterproof and other protective workwear for the utility industry.

Marketed under the Bell Apparel brand, this line complements MSA's existing and broad range of offerings for the global utilities market.

The fire service equipment brands of MSA, which include Gallet Firefighter Helmets, the M1 and G1 Self-Contained Breathing Apparatus range, Cairns Helmets, Globe Manufacturing, and now Bristol Uniforms, represent more than 460 combined years of innovation in the fire service industry, with one common mission: protecting the health and safety of firefighters.

Established in 1914, MSA Safety...

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