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3M, St. Paul, MN, has entered into an agreement to acquire Hornell International, a global supplier of personal protective equipment for welding applications based in Gagnef, Sweden, including related trademarks and patents, for 750 million SEK (approximately $100 million) in cash including assumption of debt.
Hornell is a $49 million company that provides personal protective equipment for welders, including Speedglas auto-darkening filters, Adflo respiratory protection devices, and other solutions. Hornell employs 215 people.
Hornell International has for the last eight years been owned and managed by founder Dr. Ake Hornell and private equity firms 3i Group (UK) represented by Accent Equity Partners (Sweden) and Skandia Investment (Sweden) represented by Priveq Partners (Sweden).
Hornell's products and technology complement 3M's line of personal protective equipment which includes respirators; hearing protection; head, eye and face protection; as well as reflective materials for clothing, and thermal and acoustical insulation. In personal protective equipment 3M serves markets in first responder, industrial manufacturing, automotive, shipbuilding, military and consumer markets.
Hornell's Speedglas brand auto-darkening filter welding helmets and Adflo brand respiratory protection equipment broaden 3M's offering and increase its access to a fast-growing segment in the welding industry. Auto-darkening filters detect light from the welding arc and virtually instantly reduce the visible light that reaches welders' eyes and filters harmful infrared and ultraviolet light.