PITTSBURGH — MSA Safety Incorporated announced that it will acquire Globe Holding Company for $215 million.
"Helping to keep firefighters safe has been a constant of MSA's mission since the 1920s," William M. Lambert, MSA Chairman and CEO said in a press release. "With virtually no product overlap, this acquisition aligns extremely well with our corporate strategy in that it strengthens our leading position in the North American fire service market and it expands our Core Product portfolio in a key customer segment."
Globe is North America’s largest firefighter protective clothing manufacturer with a reputation for high-quality and innovative products, such as their new line of lightweight, athletic-inspired clothing called ATHLETIX.
"From the start, this acquisition has been about securing the future of Globe with a good fit for both organizations – from a culture standpoint, from a product synergy perspective and from a market coverage point of view," Globe President Don Welch said. "We are excited about today's news as we see this acquisition as a great match for Globe and for MSA on all of these fronts."
The transaction is set to close in the third quarter of 2017.