3M will form a new joint venture with Bain Capital to acquire Madison Fire & Rescue, a leading provider of fire‑suppression and rescue technology. The venture will combine 3M’s Scott Safety business with Madison’s portfolio of brands, including Holmatro, Amkus, Task Force Tips, Fire Fighting Systems and Waterax.
Under the terms, 3M will receive $700 million in cash at closing and will hold a 50.1% stake in the new company, while Bain Capital will own 49.9%. The transaction is valued at approximately $1.95 billion and is expected to close in the second half of 2026.
The deal expands 3M’s safety and industrial footprint, adding high‑margin rescue and fire‑suppression solutions to its existing safety product lines. By integrating Madison’s specialized brands, 3M aims to broaden its market reach, leverage cross‑selling opportunities, and generate scale for future growth in the fire‑rescue sector.
3M’s recent quarterly results provide context for the acquisition. In Q4 2025, the company reported adjusted earnings per share of $1.83, beating estimates of $1.80, while sales of $6.0 billion were slightly below the forecast of $6.03 billion. For 2026, 3M is guiding organic sales growth of about 3% and an operating‑margin expansion of 70–80 basis points, with full‑year EPS projected between $8.50 and $8.70. Management has highlighted commercial and operational excellence as key drivers, noting challenges such as higher polymer costs and softness in consumer and automotive segments.
Bain Capital’s involvement brings private‑equity expertise and capital to the joint venture, allowing 3M to retain majority control while sharing operational risk. The partnership structure is designed to accelerate integration, streamline supply chains, and unlock synergies across both companies’ safety and industrial businesses.
The acquisition positions 3M to capture a larger share of the growing fire‑rescue market, enhance its product portfolio, and create a platform for continued innovation and scale in safety solutions. The joint venture is expected to strengthen 3M’s competitive stance and support its broader strategy of expanding high‑margin safety offerings.
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