MSA Acquires General Monitors
MSA has signed an agreement to acquire General Monitors, headquartered in Lake Forest, Calif., an innovator and developer of advanced flame and gas detection systems. The transaction is valued at $280 million and will be financed with a combination of existing cash balances and incremental borrowing. General Monitors, which employs about 225 people globally and has annual revenues of about $80 million, will continue to operate from its California headquarters.
MSA believes this acquisition will be immediately accretive, exclusive of one-time transaction costs, and will significantly strengthen MSA’s market position in one of the most attractive segments of the safety industry. It will further enhance MSA’s line of fixed gas-detection products and strategically position MSA as the industry leader in the estimated $850 million market. General Monitors’ products and systems are used in a broad range of oil and gas exploration and refining applications and in diverse industrial plant settings.