3M Acquires Madison Fire & Rescue for $1.95 Billion, Forms Joint Venture with Bain Capital.

3M has agreed to acquire Madison Fire & Rescue in a $1.95 billion deal, forming a joint venture with Bain Capital. The deal will expand 3M's safety portfolio and create a new entity offering products for firefighters, first responders, and industrial workers. 3M will contribute its Scott Safety business and receive $700 million in cash, while Bain Capital will own 49.9%. The transaction is expected to close in the second half of 2026.