3M Co. completed the acquisition of Scott Safety from Johnson Controls International plc for a total enterprise value of $2.0 billion.
Scott Safety manufactures, among other products, self-contained breathing apparatus systems, gas and flame detection instruments and other safety devices for firefighters, industrial workers, police, military, homeland security forces and rescue teams. These products will complement 3M's personal safety portfolio.
For the 12 months ended Sept. 30, 2017, Scott Safety's revenues reached approximately $575 million.
3M estimates the acquisition to have a dilutive impact on earnings of 8 cents per share in the fourth quarter.