3M Acquires Madison Fire & Rescue for $1.95 Billion, Expanding Safety Portfolio with Bain Capital Partnership.

3M is expanding its safety portfolio by spinning off its Scott Safety business and partnering with Bain Capital to acquire Madison Fire & Rescue for $1.95 billion. The new joint venture will combine the two companies, with 3M owning 50.1% and Bain owning 49.9%. The deal is expected to close in the second half of 2026 and will generate strong free cash flow for 3M.