Diversified manufacturer 3M, St. Paul, MN, has agreed to acquire Aearo Technologies Inc., Indianapolis, IN,&nbsp ; for $1.2 billion. Aearo is a supplier in the personal protection industry and manufactures and markets personal protection and energy absorbing products.
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Aearo is owned by funds advised by Permira, a global private equity firm, and company management.
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Aearo will significantly expand 3M’s occupational health and environmental safety platform by adding hearing protection as well as eyewear and fall protection product lines to 3M’s existing full-line of respiratory products.
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Aearo complements and significantly broadens our core safety and personal protection business, a space which is growing fast and of strategic importance to the company,” said George W. Buckley, 3M president and CEO.
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Aearo’s brand names are E-A-R, Peltor, AOSafety and SafeWaze. The company has sales that have risen at a compound annual growth rate of more than 12% over the past five years to $508 million.
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The complete Aearo product line includes passive hearing, communication headsets, eye protection, head and face protection and fall protection. The company also markets systems solutions and proprietary energy absorbing materials, which are incorporated into other manufacturers’products to control noise, vibration, shock and temperature.