MSA SAFETY INCORPORATED announced it has completed its acquisition of GLOBE HOLDING COMPANY, LLC, Pittsfield, New Hampshire, in an all-cash transaction valued at $215 million, or approximately two times revenue and nine times EBITDA on a trailing 12-month basis. Globe is a manufacturer of firefighter protective clothing and boots, with approximately 420 employees across four U.S. locations. The transaction, which MSA announced in late June, was financed through incremental borrowings with an after-tax cost of less than two percent. With the acquisition complete, MSA strengthens its position as a leader in the North American market for firefighter personal protective equipment. “Globe is a highly recognized and respected brand of firefighter turnout gear, which very nicely complements our own line of firefighter protective equipment,” says William M. Lambert, MSA chairman and CEO. “With virtually no product overlap, the acquisition aligns well with our corporate strategy in that it expands our core product portfolio in a key customer segment. More simply, it means we can now help protect firefighters from head to toe with Cairns Helmets, our G1 self-contained breathing apparatus, and Globe turnout gear and boots,” he said. Globe Manufacturing’s management team, including previous owners Don Welch, Rob Freese, and Gef Freese, will continue to work for the company over the short term to ensure an effective transition.
SUTPHEN CORPORATION has announced that BOISE MOBILE EQUIPMENT (BME) is its official sales and service representative in California, Idaho, Montana, Nevada, Oregon, Utah, and Wyoming. Boise Mobile Equipment has been in business since 1990 and is known as a premier manufacturer of Type 3, 4, and 6 wildland firefighting vehicles. It also manufactures a variety of command vehicles for the law enforcement and fire industries along with tenders and rescues. In addition to its facility in Boise, Idaho, BME focuses on servicing its customers with service centers up and down the West Coast and mobile technicians to assist customers on site at their fire stations.
Two recipients of the 2017 GLOBE Gear Giveaway are the Gustavus (AK) Volunteer Fire Department and Island Heights (NJ) Volunteer Fire Company. With only 10 sets of gear available for its 27 volunteer firefighters, the Gustavus (AK) Volunteer Fire Department will be able to train and respond safely and in accordance with state and national standards through this donation. While all 30 of the Island Heights Volunteer Fire Company’s members currently have turnout gear, 18 of those are more than 10 years old and no longer compliant with safety standards. The department expects to serve the residents of Island Heights more safely while simultaneously relieving financial pressure from its limited operations budget.