3M, Bain Capital Acquire Madison, Form Safety JV

(MMM) and Bain Capital Specialty Finance, Inc. (BCSF) agreed to acquire Madison Fire & Rescue for $1.95 billion and form a new joint venture, with 3M contributing its Scott Safety business and receiving $700 million cash, holding a 50.1% stake in the new entity.

This strategic move establishes a new entity focused on fire safety and rescue solutions, combining Scott Safety's self-contained breathing apparatus with Madison Fire & Rescue's portfolio of rescue technology and fire suppression products. Madison Fire & Rescue offers products under brands including Holmatro, Amkus, Task Force Tips, Fire Fighting Systems, and Waterax.

The transaction is expected to close in the second half of 2026. As reported by RTTNews, Bain Capital Specialty Finance, Inc.

(BCSF) closed 0.32% lower at $12.27 on the New York Stock Exchange on Wednesday, and 3M Co. (MMM) traded 0.19% lower at $144.81 in pre-market trading.