Scott Safety, a Tyco business, announced today that it has acquired Industrial Safety Technologies (IST), a global leader in gas and flame detection from Battery Ventures. The Tyco purchase price was $329.5 million in cash. The combination of IST and Scott Safety makes Tyco one of the largest global designers and manufacturers of gas and flame detection products and reinforces Tyco’s commitment to growing its gas and flame detection business.
“IST is excited to be joining the Scott Safety family,” said Adam Markin, CEO of Industrial Safety Technologies. “We look forward to working with their team to build a world-leading, safety- products business. There will be great opportunities for our employees and customers over the coming years.”
IST holds a technology leadership position in the gas and flame detection industry and is strongly committed to innovating in industrial safety solutions. From groundbreaking wireless gas-detection technology to the first SIL3 certified triple IR flame detector, IST provides among the most advanced and reliable solutions protecting lives and workplaces around the world. IST brings strong market presence in Europe, the Middle East, and the Gulf Coast U.S. region and will complement the Scott Safety Detection business.
“Scott Safety is committed to providing our customers with a full range of safety solutions,” said Andrew Chrostowski, president, Scott Safety. “The addition of IST reinforces this commitment and establishes Scott as a world leader in gas detection.”
“We are proud to have played an active role in building IST into a global technology leader in its markets and we know that Scott Safety will continue this tradition,” said Jesse Feldman, a general partner at Battery Ventures and chairman of the IST Board.
Scott Safety has a broad, global offering of premium safety products, with a range that includes SCBA, air purifying respirators, gas detection systems, compressors, and accountability products. Scott has been providing portable and fixed gas detection solutions to its customers for over 20 years. With the addition of the IST group, Scott Safety will now be able to offer customers a much broader range of flame and gas detection products, with some of the most advanced technologies in the market.
“Each company within the IST group provides a unique set of detection capabilities” said Jeff Emery, director of marketing, Scott Safety. “This acquisition will enable us to accelerate new product development, expand our geographic presence, deepen our technical expertise and broaden our product offerings and service capabilities.”
The transaction is scheduled to close by February 5 and is subject to customary closing conditions.