MSA Safety to Expand Gas Detection Business with Acquisition of Bacharach, Inc.; a Leader in Heating, Ventilation, Air Conditioning and Refrigeration (HVAC-R) Leak Detection

PITTSBURGH, May 24, 2021 / PRNewswire / – Global safety equipment manufacturer MSA Safety Incorporated (NYSE: MSA) announced today that it has entered into a definitive agreement to acquire Bacharach, Inc. and its affiliates (Bacharach) to acquire from FFL Partners, a San Francisco, California based private equity firm, in a transaction worth $ 337 million. The head office is close by Pittsburgh in New Kensington, Pa., Bacharach is a leader in gas detection technologies used in the heating, ventilation, air conditioning and refrigeration (HVAC-R) markets with annual sales of approximately $ 70 million. The company employs 200 people at four locations in the US, Canada and Ireland.

Founded in 1909, Bacharach’s advanced instrumentation technologies help protect lives and the environment, while also increasing the operational efficiency of its diversified customer base. The company’s portfolio of gas detection and analysis products is used to detect, measure and analyze leaks of various gases that are common in both commercial and industrial environments. Bacharach has strong expertise in the refrigerant leak detection market with customers in the HVAC-R, food retail, automotive, commercial and industrial refrigeration and military markets.

“The acquisition of Bacharach accelerates our long-term growth strategy to expand our addressable market with applications that align with MSA’s mission and core technologies,” said Nish Vartanian, MSA Chairman, President and CEO. “With a leading detection portfolio and a strong brand, Bacharach provides access to attractive end markets, while being exceptionally well-aligned with MSA’s product and manufacturing expertise.” Mr. Vartanian added that MSA’s Gas Detection Manufacturing Center of Excellence and Bacharach headquarters are both located in the Pittsburgh Surface.

MSA Senior Vice President and Chief Financial Officer Ken Krause will serve as the Executive Sponsor of the acquisition. In this capacity, Mr. Krause will oversee Bacharach’s integration process and ensure acquisition synergies are achieved.

“The acquisition of Bacharach is a great opportunity to make our gas detection portfolio even more resilient,” said Krause. “Bacharach’s end markets are in line with the regulatory wind that supports growth across various economic cycles. The company’s complementary technology and manufacturing processes also provide the opportunity to improve productivity in a number of areas,” he said.

Mr. Krause added that the acquisition reflects MSA’s balanced approach to capital deployment. “Growth remains the top priority in our capital allocation strategy. The strength of our balance sheet has positioned us very well to pursue organic and inorganic growth opportunities in our portfolio while financing an increasing dividend,” he said.

Matthew TooneBacharach CEO said: “MSA’s global reach will play an important role in driving future growth for Bacharach. With complementary technology, similar missions and a like-minded attitude towards sustainability and the environment, we see this acquisition as an excellent match. for both Bacharach and for MSA. “

MSA’s detection brands, including General Monitors, Senscient, Sierra Monitor and now Bacharach, represent more than 325 combined years of gas detection innovation, with one common mission: to protect the health and safety of people and facility infrastructures across the world. whole world.

MSA plans adjusted earnings growth of $ 0.10$ 0.15 per share in the second half of 2021 and $ 0.25$ 0.35 per share for the full year 2022. MSA expects to use a combination of its senior revolving credit facility and long-term fixed rate debt to finance the transaction upon completion. The acquisition is expected to add approximately one turn of leverage to MSA’s balance sheet.

In connection with the acquisition, MSA has modified and expanded its credit facilities to increase borrowing capacity and provide greater flexibility. With these changes, MSA’s senior revolving credit facility now includes a sustainability-linked pricing structure linked to the company’s performance on certain ESG metrics.

The transaction is expected to close in early July, subject to the fulfillment of customary closing conditions, including receipt of regulatory approvals.

About MSA

Founded in 1914, MSA Safety Incorporated is the world leader in the development, manufacture and supply of safety products that protect people and facility infrastructure. Many MSA products integrate a combination of electronics, mechanical systems and advanced materials to protect users from dangerous or life-threatening situations. The company’s extensive product line is used by employees around the world in a wide variety of markets, including the oil, gas and petrochemical, fire, construction, mining and military industries. MSA’s core products include self-contained breathing apparatus, fixed gas and flame detection systems, portable gas detection instruments, industrial head protection products, fire helmets and protective clothing, and fall protection equipment. With revenues of $ 1.35 billion in 2020, MSA employs approximately 5,000 people worldwide. The company is headquartered north of Pittsburgh in Cranberry Township, Pennsylvania, and has manufacturing facilities in the United States, Europe, Asia and Latin America. With more than 40 international locations, MSA generates approximately half of its sales from outside of North America. For more information, visit the MSA website at

About Bacharach, Inc.

Bacharach is a supplier of cleantech solutions for gas and refrigerant leak detection and identification, refrigerant tracking, combustion and emission analysis instruments and high purity oxygen gas analysis in commercial and industrial applications. Bacharach products make the heating, ventilation, air conditioning, refrigeration (HVAC-R) and process industries safer, cleaner and more energy efficient, enabling customers to increase productivity, reduce costs and protect lives and the environment.

Cautionary Statement Regarding Forward-Looking Statements

Except for historical information, certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, all projections and expected levels of future performance , benefits and synergies of the transaction, future opportunities for the combined company and any other statements about the future expectations, beliefs, goals, plans or prospects of MSA and Bacharach management. Forward-looking statements involve risks, uncertainties and other factors that could cause our actual results to differ materially from those discussed herein. A number of factors could cause actual results to differ materially from forecasts or forward-looking statements, including but not limited to MSA’s ability to successfully integrate Bacharach’s businesses and employees, unexpected costs, changes or expenses arising from the transaction , the risk that the transaction will affect MSA’s and Bacharach’s current plans and operations, its ability to realize expected synergies, MSA’s ability to successfully grow Bacharach’s business, potential adverse reactions or changes in business relationships as a result of the announcement of the transaction, the retention of key employees, global economic conditions, government spending patterns, competitive pressures, product liability claims, the success of new product introductions, currency fluctuations and the risks of doing business abroad. A full list of these risks, uncertainties and other factors is detailed from time to time in our filings with the United States Securities and Exchange Commission (“SEC”), including our most recent Form 10-K, filed February 19. 2021. You are strongly advised to review all such filings for a more detailed discussion of such risks and uncertainties. MSA’s SEC filings are readily available at, as well as on its own investor relations website at MSA undertakes no obligation to publicly update any forward-looking statements contained in this document, except as required by law.


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